SiBone $SIBN Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management dramatically increased its stake in SiBone, buying 155,683 additional shares in the fourth quarter and ending with 155,792 shares valued at about $3.1 million.
• Several analysts remain positive on SIBN despite some mixed signals: the stock holds a Moderate Buy consensus with a $23 price target, though one firm downgraded it to hold and others trimmed targets to $18.
• SiBone’s latest earnings beat expectations, reporting a smaller-than-expected loss of $0.10 per share on revenue of $52.59 million, while insiders recently sold shares tied to tax withholding on vested equity awards.

Northwestern Mutual Wealth Management Co. increased its position in shares of SiBone (NASDAQ:SIBN - Free Report) by 142,828.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,792 shares of the company's stock after purchasing an additional 155,683 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.36% of SiBone worth $3,072,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company's stock worth $343,000 after purchasing an additional 1,053 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SiBone in the first quarter valued at about $225,000. 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of SiBone in the first quarter worth about $1,818,000. Finally, Legal & General Group Plc boosted its position in SiBone by 16.1% during the second quarter. Legal & General Group Plc now owns 42,403 shares of the company's stock worth $798,000 after acquiring an additional 5,888 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SIBN. Wall Street Zen downgraded shares of SiBone from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. TD Cowen lowered their target price on SiBone from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Finally, Truist Financial restated a "buy" rating and issued a $18.00 price target (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SiBone presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Insider Transactions at SiBone

In other SiBone news, SVP Michael A. Pisetsky sold 3,726 shares of SiBone stock in a transaction on Monday, May 18th. The stock was sold at an average price of $14.63, for a total value of $54,511.38. Following the sale, the senior vice president owned 280,509 shares in the company, valued at $4,103,846.67. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Laura Francis sold 14,957 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the transaction, the chief executive officer directly owned 503,444 shares in the company, valued at approximately $7,405,661.24. This trade represents a 2.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 36,852 shares of company stock valued at $523,018 in the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

SiBone Trading Up 6.9%

Shares of SIBN opened at $14.88 on Friday. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The firm has a market capitalization of $659.91 million, a P/E ratio of -38.15 and a beta of 0.70. The firm has a 50-day moving average price of $13.63 and a 200 day moving average price of $15.96. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The company had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. Sell-side analysts forecast that SiBone will post -0.44 EPS for the current 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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