Impax Asset Management Group plc Has $23.66 Million Stock Holdings in SiBone $SIBN

Key Points

• Impax Asset Management Group plc raised its stake in SiBone by 17.1% to 1,200,010 shares, representing about 2.77% of the company and worth approximately $23.66 million at quarter-end.
• Company insiders have been net sellers: CEO Laura Francis sold 93,475 shares and insiders sold a total of 167,697 shares worth about $2.55 million over the last quarter, leaving insiders with roughly 4% ownership.
• Analysts are mixed but generally positive — the consensus rating is "Moderate Buy" with an average target of $24 — and SiBone recently beat EPS estimates, reporting ($0.04) per share versus an expected ($0.13) on $56.35 million in revenue.

Impax Asset Management Group plc raised its stake in SiBone (NASDAQ:SIBN - Free Report) by 17.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200,010 shares of the company's stock after acquiring an additional 175,000 shares during the period. Impax Asset Management Group plc owned approximately 2.77% of SiBone worth $23,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in SiBone by 36.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company's stock valued at $7,128,000 after acquiring an additional 129,723 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in SiBone by 337.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company's stock valued at $1,227,000 after acquiring an additional 64,322 shares in the last quarter. First Light Asset Management LLC raised its holdings in SiBone by 9.5% in the 3rd quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company's stock valued at $28,232,000 after acquiring an additional 166,902 shares in the last quarter. American Century Companies Inc. raised its holdings in SiBone by 22.5% in the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company's stock valued at $41,777,000 after acquiring an additional 521,683 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in SiBone by 47.3% in the 3rd quarter. Royce & Associates LP now owns 162,051 shares of the company's stock valued at $2,385,000 after acquiring an additional 52,019 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SiBone news, CEO Laura Francis sold 93,475 shares of the company's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total value of $1,432,037.00. Following the completion of the transaction, the chief executive officer owned 544,369 shares of the company's stock, valued at $8,339,733.08. This represents a 14.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Pisetsky sold 20,756 shares of the company's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total value of $318,604.60. Following the completion of the transaction, the senior vice president directly owned 285,974 shares of the company's stock, valued at approximately $4,389,700.90. The trade was a 6.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 167,697 shares of company stock worth $2,551,086. Company insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SIBN. TD Cowen lifted their price objective on SiBone from $21.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 24th. Wall Street Zen cut SiBone from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Truist Financial lowered their price target on SiBone from $24.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of SiBone in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

SiBone Price Performance

SiBone stock opened at $13.52 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55. SiBone has a 52 week low of $12.15 and a 52 week high of $21.89. The stock has a market capitalization of $598.12 million, a P/E ratio of -30.73 and a beta of 0.77. The stock has a fifty day moving average of $13.94 and a 200-day moving average of $16.29.

SiBone (NASDAQ:SIBN - Get Free Report) last issued its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.09. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.The business had revenue of $56.35 million during the quarter, compared to analysts' expectations of $56.26 million. On average, sell-side analysts expect that SiBone will post -0.52 earnings per share for the current fiscal year.

SiBone Profile

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.

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