UBS Group AG Raises Stake in SiBone $SIBN

Key Points

• UBS Group AG increased its SiBone stake by 570.2% in the fourth quarter, ending with 104,731 shares valued at about $2.1 million.
• SiBone reported better-than-expected quarterly results, posting EPS of -$0.10 versus an estimated -$0.17 and revenue of $52.59 million, above consensus estimates.
• Despite the earnings beat, analysts remain mixed: the stock has a Moderate Buy rating overall, but several firms cut price targets and one recently downgraded the shares to hold.

UBS Group AG lifted its stake in shares of SiBone (NASDAQ:SIBN - Free Report) by 570.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,731 shares of the company's stock after buying an additional 89,105 shares during the quarter. UBS Group AG owned about 0.24% of SiBone worth $2,065,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. First Eagle Investment Management LLC grew its holdings in shares of SiBone by 36.6% during the third quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company's stock worth $7,128,000 after purchasing an additional 129,723 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of SiBone by 17.1% during the fourth 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. Y Intercept Hong Kong Ltd grew its holdings in shares of SiBone by 337.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company's stock worth $1,227,000 after purchasing an additional 64,322 shares during the last quarter. First Light Asset Management LLC grew its holdings in shares of SiBone by 9.5% during the third 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 during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of 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 purchasing an additional 521,683 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company's stock.

SiBone Stock Down 0.3%

SIBN stock opened at $14.41 on Friday. The company has a fifty day moving average price of $13.51 and a 200 day moving average price of $16.07. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The company has a market cap of $639.08 million, a price-to-earnings ratio of -36.95 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34.

SiBone (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) EPS 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 firm had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. Sell-side analysts expect that SiBone will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SIBN. Wall Street Zen lowered SiBone from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Truist Financial reaffirmed a "buy" rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. Finally, TD Cowen reduced their price target on shares of SiBone from $22.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, SiBone currently has an average rating of "Moderate Buy" and an average price target of $23.00.

Insider Buying and Selling at SiBone

In related news, CFO Anshul Maheshwari sold 3,318 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total value of $42,702.66. Following the completion of the sale, the chief financial officer owned 263,148 shares in the company, valued at $3,386,714.76. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mika Nishimura sold 4,100 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $13.83, for a total transaction of $56,703.00. Following the completion of the sale, the director owned 32,716 shares of the company's stock, valued at approximately $452,462.28. This trade represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,572 shares of company stock worth $418,831 in the last 90 days. Company insiders own 4.00% of the company's stock.

About SiBone

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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