Principal Financial Group Inc. Acquires New Shares in SiBone $SIBN

Principal Financial Group Inc. bought a new position in SiBone (NASDAQ:SIBN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 39,373 shares of the company’s stock, valued at approximately $580,000. Principal Financial Group Inc. owned about 0.09% of SiBone as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SIBN. Y Intercept Hong Kong Ltd grew its stake in shares of SiBone by 337.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company’s stock worth $1,227,000 after acquiring an additional 64,322 shares during the period. VELA Investment Management LLC boosted its holdings in SiBone by 11.9% in the third quarter. VELA Investment Management LLC now owns 141,222 shares of the company’s stock worth $2,079,000 after purchasing an additional 15,048 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in SiBone by 84.8% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 90,028 shares of the company’s stock worth $1,325,000 after purchasing an additional 41,314 shares during the period. State of Alaska Department of Revenue purchased a new stake in SiBone during the 3rd quarter valued at $39,000. Finally, Peregrine Capital Management LLC raised its stake in SiBone by 8.4% during the 3rd quarter. Peregrine Capital Management LLC now owns 383,782 shares of the company’s stock valued at $5,649,000 after buying an additional 29,670 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SIBN. Canaccord Genuity Group lifted their price objective on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Needham & Company LLC raised their target price on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Truist Financial increased their price objective on shares of SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, TD Cowen upgraded shares of SiBone to a “strong-buy” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SiBone has an average rating of “Moderate Buy” and an average target price of $24.33.

SiBone Stock Performance

SIBN opened at $15.47 on Friday. The company has a 50 day simple moving average of $17.90 and a two-hundred day simple moving average of $16.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. The firm has a market cap of $671.24 million, a P/E ratio of -30.33 and a beta of 0.69. SiBone has a 1-year low of $12.49 and a 1-year high of $21.89.

Insider Activity

In related news, CFO Anshul Maheshwari sold 21,528 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total transaction of $330,885.36. Following the completion of the transaction, the chief financial officer owned 266,466 shares in the company, valued at approximately $4,095,582.42. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Pisetsky sold 20,756 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the transaction, the senior vice president directly owned 285,974 shares of the company’s stock, valued at $4,389,700.90. The trade was a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 248,153 shares of company stock valued at $4,244,702 in the last three months. 4.00% of the stock is currently owned by insiders.

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.