SiBone $SIBN Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its SiBone stake by 41.8% in the first quarter, adding 182,465 shares to own 618,939 shares, or approximately 1.4% of the company. Institutional investors collectively hold 98.11% of SIBN.
• Analyst sentiment remains favorable, with six Buy ratings and one Sell rating producing a consensus “Moderate Buy” rating and a $24.17 price target. Truist, UBS, and TD Cowen recently raised their price targets.
• SiBone’s latest quarterly results exceeded expectations, reporting an adjusted loss of $0.09 per share versus the expected $0.15 loss and revenue of $56.01 million versus the $55.34 million estimate. Shares recently opened at $18.84, while insiders sold shares primarily to cover tax withholding on vested equity awards.

Dimensional Fund Advisors LP raised its holdings in SiBone (NASDAQ:SIBN - Free Report) by 41.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 618,939 shares of the company's stock after buying an additional 182,465 shares during the quarter. Dimensional Fund Advisors LP owned about 1.40% of SiBone worth $7,816,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SIBN. First Light Asset Management LLC increased its holdings in shares of SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company's stock valued at $99,249,000 after acquiring an additional 3,115,001 shares in the last quarter. Cadian Capital Management LP boosted its stake in SiBone by 96.8% in the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company's stock worth $23,094,000 after purchasing an additional 576,100 shares in the last quarter. Wellington Management Group LLP boosted its stake in SiBone by 74.7% in the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company's stock worth $12,560,000 after purchasing an additional 364,897 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in SiBone during the 2nd quarter worth approximately $4,079,000. Finally, Algert Global LLC grew its position in SiBone by 104.5% during the 3rd quarter. Algert Global LLC now owns 415,194 shares of the company's stock worth $6,112,000 after purchasing an additional 212,175 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial reaffirmed a "buy" rating and issued a $23.00 price target (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Weiss Ratings lowered shares of SiBone from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, August 5th. Wall Street Zen downgraded SiBone from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. UBS Group raised their target price on SiBone from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Finally, TD Cowen raised their target price on SiBone from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.17.

Insider Activity

In related news, CEO Laura Francis sold 14,957 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.71, for a total transaction of $220,017.47. Following the completion of the transaction, the chief executive officer directly owned 503,444 shares in the company, valued at $7,405,661.24. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Michael A. Pisetsky sold 3,726 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.63, for a total transaction of $54,511.38. Following the completion of the sale, the senior vice president directly owned 280,509 shares in the company, valued at approximately $4,103,846.67. The trade was a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 55,989 shares of company stock valued at $910,429 over the last quarter. Insiders own 4.00% of the company's stock.

SiBone Price Performance

Shares of NASDAQ:SIBN opened at $18.84 on Tuesday. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company's 50 day moving average is $16.72 and its 200 day moving average is $15.17. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The company has a market cap of $835.55 million, a PE ratio of -55.41 and a beta of 0.66.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The company had revenue of $56.01 million during the quarter, compared to analyst estimates of $55.34 million. On average, sell-side analysts forecast that SiBone will post -0.4 EPS for the current year.

SiBone Company 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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