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

First Eagle Investment Management LLC bought a new stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 185,448 shares of the company’s stock, valued at approximately $2,600,000. First Eagle Investment Management LLC owned approximately 0.44% of SI-BONE at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Essex Investment Management Co. LLC lifted its position in shares of SI-BONE by 24.3% during the 4th quarter. Essex Investment Management Co. LLC now owns 208,160 shares of the company’s stock valued at $2,918,000 after buying an additional 40,636 shares in the last quarter. AlphaQuest LLC lifted its position in shares of SI-BONE by 13,950.6% during the 4th quarter. AlphaQuest LLC now owns 11,662 shares of the company’s stock valued at $164,000 after buying an additional 11,579 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of SI-BONE during the 4th quarter valued at approximately $1,233,000. Proficio Capital Partners LLC purchased a new position in shares of SI-BONE during the 4th quarter valued at approximately $155,000. Finally, Mainstream Capital Management LLC purchased a new position in shares of SI-BONE during the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Stock Up 0.3 %

Shares of SIBN opened at $14.75 on Friday. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $19.16. The company has a market capitalization of $626.18 million, a PE ratio of -16.03 and a beta of 1.17. The stock has a fifty day simple moving average of $16.54 and a two-hundred day simple moving average of $14.86. 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 issued its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. The business had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. As a group, equities analysts forecast that SI-BONE, Inc. will post -0.78 EPS for the current year.

Analysts Set New Price Targets

SIBN has been the topic of a number of recent analyst reports. Needham & Company LLC increased their target price on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Truist Financial restated a “buy” rating and issued a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $24.50.

Insiders Place Their Bets

In related news, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total transaction of $51,013.00. Following the completion of the sale, the insider now directly owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the sale, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at $2,633,427.29. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,311 shares of company stock valued at $130,356 in the last three months. 3.90% of the stock is currently owned by insiders.

SI-BONE Company Profile

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.