Palumbo Wealth Management LLC Buys Shares of 30,649 SiBone $SIBN

Key Points

• Palumbo Wealth Management LLC has acquired 30,649 shares of SiBone ($SIBN), valued at approximately $577,000, increasing its stake to 0.07% of the company.
• Other institutional investors have also increased their holdings, with Harbor Capital Advisors and Goldman Sachs raising their stakes significantly in recent quarters.
• SiBone's recent earnings report showed a revenue of $48.63 million for the quarter, surpassing the consensus estimate, while the company has a consensus price target of $23.67 from analysts.

Palumbo Wealth Management LLC purchased a new position in shares of SiBone (NASDAQ:SIBN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,649 shares of the company's stock, valued at approximately $577,000. Palumbo Wealth Management LLC owned approximately 0.07% of SiBone as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its holdings in SiBone by 7.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 573,705 shares of the company's stock worth $10,797,000 after purchasing an additional 40,993 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company's stock worth $5,328,000 after buying an additional 83,919 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of SiBone by 26.9% during the 1st quarter. Voya Investment Management LLC now owns 30,818 shares of the company's stock worth $432,000 after buying an additional 6,526 shares during the period. Rhumbline Advisers grew its stake in SiBone by 3.6% in the 1st quarter. Rhumbline Advisers now owns 59,721 shares of the company's stock valued at $838,000 after buying an additional 2,100 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in SiBone in the 1st quarter worth $1,818,000. Institutional investors and hedge funds own 98.11% of the company's stock.

SiBone Price Performance

Shares of SiBone stock opened at $14.22 on Thursday. SiBone has a twelve month low of $11.70 and a twelve month high of $20.05. The firm has a market cap of $613.47 million, a P/E ratio of -25.39 and a beta of 0.81. The firm's 50-day simple moving average is $16.15 and its 200-day simple moving average is $16.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.00 and a current ratio of 8.38.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $48.63 million during the quarter, compared to the consensus estimate of $48.12 million. SiBone had a negative return on equity of 14.20% and a negative net margin of 12.83%. SiBone has set its FY 2025 guidance at EPS. As a group, research analysts expect that SiBone will post -0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald set a $25.00 price target on shares of SiBone and gave the company an "overweight" rating in a report on Monday, August 11th. Wall Street Zen lowered SiBone from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, SiBone currently has an average rating of "Buy" and a consensus price target of $23.67.

Insider Buying and Selling

In other news, SVP Michael A. Pisetsky sold 3,329 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.64, for a total value of $52,065.56. Following the transaction, the senior vice president directly owned 258,352 shares of the company's stock, valued at $4,040,625.28. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Gordon Freund sold 12,132 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $15.99, for a total value of $193,990.68. Following the sale, the director owned 91,767 shares in the company, valued at $1,467,354.33. The trade was a 11.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,590 shares of company stock valued at $765,137 in the last ninety days. 4.00% of the stock is owned by corporate insiders.

About SiBone

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.

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