First Eagle Investment Management LLC Has $7.13 Million Stock Position in SiBone $SIBN

First Eagle Investment Management LLC increased its holdings in SiBone (NASDAQ:SIBN) by 36.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 484,261 shares of the company’s stock after acquiring an additional 129,723 shares during the period. First Eagle Investment Management LLC owned about 1.12% of SiBone worth $7,128,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SIBN. State of Alaska Department of Revenue acquired a new position in shares of SiBone in the 3rd quarter valued at about $39,000. State of Wyoming acquired a new stake in shares of SiBone during the second quarter worth approximately $55,000. Canada Pension Plan Investment Board purchased a new position in SiBone during the second quarter valued at approximately $68,000. Tower Research Capital LLC TRC grew its position in SiBone by 198.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock valued at $92,000 after purchasing an additional 3,258 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in SiBone in the 2nd quarter valued at approximately $137,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Trading Down 2.3%

Shares of NASDAQ:SIBN opened at $15.34 on Wednesday. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $677.57 million, a PE ratio of -34.86 and a beta of 0.69. SiBone has a 1 year low of $12.49 and a 1 year high of $21.89. The firm has a fifty day moving average price of $17.25 and a 200 day moving average price of $16.84.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The company had revenue of $56.35 million during the quarter, compared to analysts’ expectations of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. Analysts expect that SiBone will post -0.78 EPS for the current fiscal year.

Insider Transactions at SiBone

In other news, Director Jeffrey W. Dunn sold 20,000 shares of SiBone stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $21.28, for a total value of $425,600.00. Following the transaction, the director owned 80,115 shares of the company’s stock, valued at $1,704,847.20. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laura Francis sold 93,475 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the completion of the sale, the chief executive officer owned 544,369 shares of the company’s stock, valued at $8,339,733.08. The trade was a 14.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 247,653 shares of company stock worth $4,234,702. 3.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Truist Financial reiterated a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of SiBone in a report on Tuesday, February 24th. Canaccord Genuity Group lifted their price objective on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC upped 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. Finally, Morgan Stanley raised their price target on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.67.

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.