SiBone $SIBN Shares Acquired by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. increased its stake in SiBone by 50%, owning 255,000 shares worth approximately $3.58 million after acquiring an additional 85,000 shares in the first quarter.
• Analysts have mixed ratings on SiBone with Cantor Fitzgerald setting a price target of $25.00 and Needham & Company LLC giving a target of $24.00, while Wall Street Zen downgraded the stock from "buy" to "hold."
• SiBone reported earnings per share of ($0.14), exceeding expectations, and revenue of $48.63 million for the most recent quarter, which was higher than the consensus estimate.

Tocqueville Asset Management L.P. increased its holdings in shares of SiBone (NASDAQ:SIBN - Free Report) by 50.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 255,000 shares of the company's stock after purchasing an additional 85,000 shares during the quarter. Tocqueville Asset Management L.P. owned 0.60% of SiBone worth $3,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ANTIPODES PARTNERS Ltd purchased a new position in SiBone during the 1st quarter valued at about $34,000. Virtus Fund Advisers LLC purchased a new position in SiBone during the 4th quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings in SiBone by 20,352.6% during the 1st quarter. GAMMA Investing LLC now owns 3,886 shares of the company's stock valued at $55,000 after acquiring an additional 3,867 shares during the period. Johnson Investment Counsel Inc. purchased a new position in SiBone during the 1st quarter valued at about $148,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in SiBone during the 1st quarter valued at about $162,000. 98.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SIBN. Cantor Fitzgerald set a $25.00 target price on SiBone and gave the company an "overweight" rating in a report on Monday, August 11th. Needham & Company LLC reiterated a "buy" rating and issued a $24.00 price objective on shares of SiBone in a research note on Tuesday, May 6th. Wall Street Zen cut SiBone from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Truist Financial lifted their price objective on SiBone from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, SiBone currently has a consensus rating of "Buy" and a consensus price target of $23.67.

SiBone Stock Up 3.5%

SIBN stock traded up $0.5440 during trading on Friday, hitting $16.1840. 82,176 shares of the company's stock were exchanged, compared to its average volume of 430,140. The business has a 50-day moving average price of $17.08 and a two-hundred day moving average price of $16.55. The stock has a market capitalization of $698.19 million, a price-to-earnings ratio of -28.81 and a beta of 0.91. SiBone has a 52-week low of $11.70 and a 52-week high of $20.05. The company has a current ratio of 8.38, a quick ratio of 7.00 and a debt-to-equity ratio of 0.21.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The firm had revenue of $48.63 million during the quarter, compared to analysts' expectations 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, equities research analysts expect that SiBone will post -0.78 EPS for the current year.

Insider Activity

In other SiBone news, Director John Gordon Freund sold 12,132 shares of SiBone stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $15.99, for a total transaction of $193,990.68. Following the transaction, the director owned 91,767 shares of the company's stock, valued at $1,467,354.33. The trade was a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Pisetsky sold 3,329 shares of SiBone 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 in the company, valued at approximately $4,040,625.28. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,967 shares of company stock valued at $829,469 over the last 90 days. Insiders own 4.00% of the company's stock.

SiBone Profile

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.