Northwestern Mutual Wealth Management Co. Boosts Stock Position in SiBone $SIBN

Northwestern Mutual Wealth Management Co. boosted its stake in SiBone (NASDAQ:SIBN) by 142,828.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,792 shares of the company’s stock after buying an additional 155,683 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.36% of SiBone worth $3,072,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SIBN. American Century Companies Inc. lifted its holdings in SiBone by 22.5% in the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock worth $41,777,000 after buying an additional 521,683 shares during the period. Wellington Management Group LLP lifted its holdings in SiBone by 74.7% in the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock worth $12,560,000 after buying an additional 364,897 shares during the period. Impax Asset Management Group plc lifted its holdings in SiBone by 48.2% in the third quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock worth $15,088,000 after buying an additional 333,249 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in SiBone in the second quarter worth about $4,079,000. Finally, Algert Global LLC lifted its holdings in SiBone by 104.5% in the third quarter. Algert Global LLC now owns 415,194 shares of the company’s stock worth $6,112,000 after buying an additional 212,175 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

SiBone Price Performance

Shares of SIBN opened at $14.68 on Tuesday. The company has a market capitalization of $651.06 million, a P/E ratio of -37.64 and a beta of 0.67. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $13.41 and a 200 day moving average of $16.09. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. The company had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. As a group, equities research analysts anticipate that SiBone will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mika Nishimura sold 4,100 shares of the firm’s stock in a transaction that occurred 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 $452,462.28. This trade represents a 11.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laura Francis sold 14,957 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $14.71, for a total transaction of $220,017.47. Following the sale, the chief executive officer directly owned 503,444 shares of the company’s stock, valued at $7,405,661.24. This trade represents a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 29,572 shares of company stock worth $418,831 over the last three months. 4.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SIBN has been the subject of several research analyst reports. Truist Financial restated a “buy” rating and issued a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, TD Cowen lowered their price objective on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, SiBone presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

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.