First Eagle Investment Management LLC Buys New Position in SI-BONE, Inc. (NASDAQ:SIBN)

First Eagle Investment Management LLC bought a new stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 185,448 shares of the company’s stock, valued at approximately $2,600,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in SI-BONE by 29.0% during the 3rd quarter. Jane Street Group LLC now owns 77,359 shares of the company’s stock valued at $1,081,000 after acquiring an additional 17,410 shares during the period. Millrace Asset Group Inc. purchased a new position in SI-BONE during the 3rd quarter valued at about $1,056,000. Champlain Investment Partners LLC boosted its holdings in SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after acquiring an additional 358,821 shares during the period. Impax Asset Management Group plc boosted its holdings in SI-BONE by 41.3% during the 3rd quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock valued at $10,604,000 after acquiring an additional 221,604 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in SI-BONE by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after acquiring an additional 1,745 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SIBN shares. Truist Financial reiterated a “buy” rating and issued a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Needham & Company LLC lifted their price objective on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE currently has a consensus rating of “Buy” and a consensus target price of $24.50.

SI-BONE Price Performance

SIBN stock opened at $14.75 on Friday. The business has a 50 day moving average price of $16.54 and a 200 day moving average price of $14.86. The stock has a market cap of $626.18 million, a price-to-earnings ratio of -16.03 and a beta of 1.17. SI-BONE, Inc. has a fifty-two week low of $11.70 and a fifty-two week high of $19.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. The company had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. Equities research analysts anticipate that SI-BONE, Inc. will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,670 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the transaction, the insider now owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the transaction, the chief financial officer now directly owns 189,319 shares in the company, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock valued at $130,356 over the last quarter. Company insiders own 3.90% of the company’s stock.

About SI-BONE

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.