Sterling Capital Management LLC Reduces Position in SiBone $SIBN

Sterling Capital Management LLC cut its holdings in shares of SiBone (NASDAQ:SIBN) by 45.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,991 shares of the company’s stock after selling 37,218 shares during the period. Sterling Capital Management LLC owned about 0.10% of SiBone worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SIBN. Royal Bank of Canada grew its holdings in shares of SiBone by 98.5% during the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after buying an additional 736 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of SiBone by 0.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock valued at $4,437,000 after acquiring an additional 997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after purchasing an additional 1,053 shares in the last quarter. Larson Financial Group LLC lifted its stake in SiBone by 42.3% during the fourth quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock worth $70,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of SiBone by 4.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after buying an additional 1,459 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SIBN shares. TD Cowen cut their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Truist Financial reaffirmed a “buy” rating and set a $18.00 target price (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SiBone presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Insider Activity

In other SiBone news, Director Jeffrey W. Dunn sold 3,575 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $15.25, for a total value of $54,518.75. Following the sale, the director directly owned 16,057 shares in the company, valued at $244,869.25. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Michael A. Pisetsky sold 3,726 shares of SiBone stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $14.63, for a total value of $54,511.38. Following the sale, the senior vice president directly owned 280,509 shares of the company’s stock, valued at $4,103,846.67. This trade represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 29,875 shares of company stock valued at $437,666 in the last 90 days. Company insiders own 4.00% of the company’s stock.

SiBone Stock Performance

Shares of SiBone stock opened at $17.11 on Friday. SiBone has a one year low of $11.48 and a one year high of $21.89. The company has a market cap of $758.83 million, a PE ratio of -43.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The business has a 50-day simple moving average of $14.64 and a 200-day simple moving average of $15.51.

SiBone (NASDAQ:SIBN) last issued its 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. 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 for the quarter, compared to analysts’ expectations of $51.16 million. On average, equities research analysts forecast that SiBone will post -0.44 EPS for the current fiscal year.

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.