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

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of SiBone by 8.3% during the third quarter. Victory Capital Management Inc. now owns 468,388 shares of the company’s stock worth $6,895,000 after buying an additional 36,020 shares during the last quarter. Royce & Associates LP boosted its holdings in SiBone by 47.3% in the 3rd quarter. Royce & Associates LP now owns 162,051 shares of the company’s stock valued at $2,385,000 after purchasing an additional 52,019 shares during the period. American Century Companies Inc. boosted its holdings in SiBone by 22.5% in the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after purchasing an additional 521,683 shares during the period. R Squared Ltd acquired a new stake in SiBone in the 3rd quarter worth $242,000. Finally, Semanteon Capital Management LP bought a new position in shares of SiBone during the 3rd quarter worth about $408,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Laura Francis sold 93,475 shares of the stock in a transaction dated Tuesday, February 17th. The shares were 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 in the company, valued at $8,339,733.08. This trade represents a 14.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Anshul Maheshwari sold 21,528 shares of SiBone stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total transaction of $330,885.36. Following the transaction, the chief financial officer directly owned 266,466 shares of the company’s stock, valued at $4,095,582.42. This represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 247,653 shares of company stock worth $4,234,702 in the last quarter. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen increased their target price on shares of SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Truist Financial reiterated a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of SiBone in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Needham & Company LLC upped their target price on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Canaccord Genuity Group lifted their price target on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

SiBone Trading Down 2.3%

SIBN stock opened at $15.34 on Wednesday. The business’s 50 day moving average is $17.25 and its 200-day moving average is $16.84. 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 firm has a market cap of $677.57 million, a P/E 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.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $56.35 million for 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%. Equities analysts anticipate that SiBone will post -0.78 earnings per share for the current fiscal year.

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.