Select Equity Group L.P. increased its stake in SI-BONE, Inc. (NASDAQ:SIBN) by 141.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,735 shares of the company’s stock after acquiring an additional 14,500 shares during the period. Select Equity Group L.P. owned approximately 0.08% of SI-BONE worth $787,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. First Light Asset Management LLC lifted its holdings in SI-BONE by 4.1% during the 1st quarter. First Light Asset Management LLC now owns 701,732 shares of the company’s stock worth $22,322,000 after buying an additional 27,750 shares during the last quarter. Amundi Asset Management US Inc. purchased a new stake in SI-BONE during the first quarter worth approximately $6,252,000. Loomis Sayles & Co. L P purchased a new stake in SI-BONE during the first quarter worth approximately $27,408,000. Maverick Capital Ltd. acquired a new position in SI-BONE in the first quarter valued at approximately $110,000. Finally, G2 Investment Partners Management LLC increased its stake in SI-BONE by 80.9% in the first quarter. G2 Investment Partners Management LLC now owns 45,228 shares of the company’s stock valued at $1,439,000 after purchasing an additional 20,228 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.
SIBN has been the topic of a number of recent analyst reports. began coverage on shares of SI-BONE in a research report on Tuesday, June 8th. They issued a “buy” rating and a $40.00 target price on the stock. Needham & Company LLC raised their price objective on SI-BONE from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, May 4th. Canaccord Genuity lifted their target price on SI-BONE from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, May 4th. Truist upped their target price on SI-BONE from $35.00 to $43.00 in a research report on Tuesday, May 4th. Finally, Zacks Investment Research upgraded SI-BONE from a “sell” rating to a “hold” rating in a research note on Tuesday, May 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.50.
SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings data on Sunday, May 2nd. The company reported ($0.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.03. SI-BONE had a negative return on equity of 31.92% and a negative net margin of 56.06%. The firm had revenue of $20.44 million during the quarter, compared to the consensus estimate of $19.08 million. On average, analysts expect that SI-BONE, Inc. will post -1.58 earnings per share for the current year.
In related news, insider Michael A. Pisetsky sold 1,975 shares of the stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $32.00, for a total transaction of $63,200.00. Following the completion of the transaction, the insider now directly owns 78,420 shares of the company’s stock, valued at $2,509,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Laura Francis sold 5,242 shares of the firm’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $31.40, for a total transaction of $164,598.80. Following the completion of the sale, the chief financial officer now owns 210,562 shares of the company’s stock, valued at approximately $6,611,646.80. The disclosure for this sale can be found here. Insiders have sold 150,479 shares of company stock valued at $4,818,807 in the last 90 days. Company insiders own 15.50% of the company’s stock.
SI-BONE Company Profile
SI-BONE, Inc, a medical device company, develops implantable devices used in the surgical treatment of the sacropelvic anatomy in the United States and Internationally. The company offers iFuse, a minimally invasive surgical implant system, which is intended to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain.
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