SiBone $SIBN Shares Bought by HighMark Wealth Management LLC

Key Points

• HighMark Wealth Management sharply increased its SiBone stake by 549.7% in the fourth quarter, buying 135,232 additional shares and bringing its position to 159,832 shares valued at about $3.15 million.
• SiBone reported better-than-expected quarterly results, with EPS of -$0.10 versus analysts’ -$0.17 estimate and revenue of $52.59 million versus expectations of $51.16 million.
• Despite the earnings beat, insiders have been selling shares, and analysts remain mixed but mostly positive, with six Buy ratings, one Sell rating, and an average target price of $23.00.

HighMark Wealth Management LLC boosted its position in shares of SiBone (NASDAQ:SIBN - Free Report) by 549.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,832 shares of the company's stock after buying an additional 135,232 shares during the period. SiBone accounts for about 1.3% of HighMark Wealth Management LLC's portfolio, making the stock its 15th largest holding. HighMark Wealth Management LLC owned 0.37% of SiBone worth $3,152,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its position in SiBone by 22.5% during the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company's stock worth $41,777,000 after acquiring an additional 521,683 shares during the last quarter. Vanguard Group Inc. lifted its stake in SiBone by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company's stock worth $49,331,000 after purchasing an additional 11,566 shares in the last quarter. First Light Asset Management LLC lifted its stake 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 worth $28,232,000 after purchasing an additional 166,902 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of SiBone by 17.1% during the 4th quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company's stock worth $23,664,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of SiBone by 74.7% in the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company's stock valued at $12,560,000 after purchasing an additional 364,897 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company's stock.

SiBone Stock Up 1.9%

Shares of SIBN opened at $14.16 on Thursday. The company's 50-day moving average price is $13.34 and its 200 day moving average price is $16.12. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The company has a current ratio of 9.99, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20. The firm has a market cap of $628.00 million, a P/E ratio of -36.31 and a beta of 0.67.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.07. The business had revenue of $52.59 million during the quarter, compared to analysts' expectations of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. On average, sell-side analysts forecast that SiBone will post -0.52 earnings per share for the current year.

Insider Transactions at SiBone

In other SiBone news, SVP Michael A. Pisetsky sold 20,756 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total value of $318,604.60. Following the sale, the senior vice president owned 285,974 shares of the company's stock, valued at $4,389,700.90. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anshul Maheshwari sold 3,318 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $12.87, for a total value of $42,702.66. Following the transaction, the chief financial officer owned 263,148 shares of the company's stock, valued at approximately $3,386,714.76. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 167,697 shares of company stock worth $2,549,984 in the last three months. Company insiders own 4.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SIBN. Wall Street Zen downgraded SiBone from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. TD Cowen dropped their price objective on shares of SiBone from $22.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Truist Financial restated a "buy" rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, SiBone has an average rating of "Moderate Buy" and an average target price of $23.00.

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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