SiBone $SIBN Shares Purchased by Sei Investments Co.

Key Points

• Sei Investments increased its SiBone stake by 67.3% in the first quarter, acquiring 114,582 additional shares for a total holding of 284,769 shares valued at approximately $3.6 million. Institutional investors collectively own 98.11% of SIBN.
• SiBone reported quarterly revenue of $56.01 million and an adjusted loss of $0.09 per share, beating analysts’ estimates of $55.34 million in revenue and a $0.15 per-share loss.
• Analysts remain broadly positive, with seven Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $24.29, compared with the stock’s reported price of $18.14.

Sei Investments Co. increased its holdings in SiBone (NASDAQ:SIBN - Free Report) by 67.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 284,769 shares of the company's stock after acquiring an additional 114,582 shares during the period. Sei Investments Co. owned approximately 0.64% of SiBone worth $3,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SiBone by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company's stock valued at $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 during the 1st quarter worth about $225,000. Goldman Sachs Group Inc. increased its position in shares of SiBone by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company's stock worth $5,328,000 after purchasing an additional 83,919 shares during the last quarter. Jane Street Group LLC purchased a new stake in SiBone in the 1st quarter valued at about $1,818,000. Finally, Legal & General Group Plc raised its holdings in SiBone by 16.1% in the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company's stock valued at $798,000 after buying an additional 5,888 shares during the period. Institutional investors and hedge funds own 98.11% of the company's stock.

SiBone Stock Up 0.6%

Shares of NASDAQ:SIBN opened at $18.14 on Friday. The firm's 50 day moving average price is $16.53 and its 200 day moving average price is $15.14. The stock has a market cap of $804.51 million, a price-to-earnings ratio of -53.35 and a beta of 0.66. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The company has a quick ratio of 8.34, a current ratio of 9.15 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN - Get Free Report) last issued 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 the consensus estimate of $55.34 million. As a group, equities research analysts predict that SiBone will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at SiBone

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 owned 503,444 shares in the company, valued at approximately $7,405,661.24. The trade was a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Michael A. Pisetsky sold 3,134 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $16.71, for a total value of $52,369.14. Following the completion of the transaction, the senior vice president directly owned 277,375 shares in the company, valued at $4,634,936.25. This trade represents a 1.12% decrease in their position. 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. In the last quarter, insiders sold 55,989 shares of company stock worth $910,429. 4.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on SIBN. Weiss Ratings cut shares of SiBone from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday. UBS Group boosted their price target on shares of SiBone from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday. Truist Financial reissued a "buy" rating and issued a $23.00 price target (up from $21.00) on shares of SiBone in a research note on Tuesday. TD Cowen upped their price objective on shares of SiBone from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wall Street Zen cut shares of SiBone from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.29.

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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