New York State Common Retirement Fund Decreases Position in SI-BONE, Inc. (NASDAQ:SIBN)

New York State Common Retirement Fund decreased its holdings in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 80.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,436 shares of the company’s stock after selling 302,507 shares during the quarter. New York State Common Retirement Fund’s holdings in SI-BONE were worth $1,562,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC purchased a new stake in SI-BONE during the third quarter worth approximately $55,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SI-BONE by 48.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after acquiring an additional 2,437 shares during the period. Arizona State Retirement System boosted its holdings in shares of SI-BONE by 7.7% in the fourth quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock valued at $224,000 after acquiring an additional 762 shares during the period. HighMark Wealth Management LLC acquired a new stake in shares of SI-BONE in the fourth quarter valued at approximately $399,000. Finally, Glenmede Trust Co. NA acquired a new stake in shares of SI-BONE in the third quarter valued at approximately $417,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insiders Place Their Bets

In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the transaction, the insider now owns 255,760 shares in the company, valued at $4,301,883.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the transaction, the insider now owns 255,760 shares in the company, valued at $4,301,883.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mika Nishimura sold 2,500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the transaction, the director now owns 19,350 shares of the company’s stock, valued at approximately $313,857. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,905 shares of company stock worth $190,273. 5.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $32.00 price objective on shares of SI-BONE in a report on Tuesday. Piper Sandler assumed coverage on SI-BONE in a report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $27.00 price objective on shares of SI-BONE in a report on Tuesday. Truist Financial reissued a “buy” rating and issued a $24.00 price objective (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Morgan Stanley decreased their price objective on SI-BONE from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $27.29.

SI-BONE Price Performance

SI-BONE stock opened at $15.54 on Friday. SI-BONE, Inc. has a 12 month low of $13.96 and a 12 month high of $29.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15. The business has a 50 day simple moving average of $15.74 and a 200-day simple moving average of $17.97. The stock has a market capitalization of $640.31 million, a PE ratio of -14.26 and a beta of 1.24.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.02. The business had revenue of $38.86 million during the quarter, compared to analysts’ expectations of $38.60 million. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. Equities analysts predict that SI-BONE, Inc. will post -0.98 earnings per share for the current year.

SI-BONE 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.