Tocqueville Asset Management L.P. Acquires 85,000 Shares of SiBone $SIBN

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

Several other large investors have also recently bought and sold shares of SIBN. ANTIPODES PARTNERS Ltd acquired a new stake in shares of SiBone during the first quarter valued at about $34,000. Virtus Fund Advisers LLC acquired a new stake in SiBone during the 4th quarter worth approximately $40,000. GAMMA Investing LLC boosted its position in SiBone by 20,352.6% during the 1st quarter. GAMMA Investing LLC now owns 3,886 shares of the company's stock worth $55,000 after buying an additional 3,867 shares during the period. Johnson Investment Counsel Inc. bought a new stake in SiBone during the 1st quarter worth approximately $148,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in SiBone in the 1st quarter valued at approximately $162,000. 98.11% of the stock is currently owned by institutional investors.

SiBone Trading Down 0.3%

NASDAQ SIBN traded down $0.05 during trading hours on Tuesday, hitting $15.49. 470,797 shares of the company's stock were exchanged, compared to its average volume of 498,220. The firm has a market cap of $668.24 million, a price-to-earnings ratio of -27.66 and a beta of 0.91. The stock has a 50-day simple moving average of $17.20 and a 200 day simple moving average of $16.56. 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 has a 1-year low of $11.70 and a 1-year high of $20.05.

SiBone (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $48.63 million for the quarter, compared to analyst estimates 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. On average, equities analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Michael A. Pisetsky sold 3,127 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $18.29, for a total value of $57,192.83. Following the completion of the sale, the senior vice president directly owned 261,681 shares in the company, valued at $4,786,145.49. This trade represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Anshul Maheshwari sold 5,005 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $18.34, for a total value of $91,791.70. Following the completion of the sale, the chief financial officer directly owned 217,078 shares of the company's stock, valued at $3,981,210.52. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,001 shares of company stock valued at $486,693. 3.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

About SiBone

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.