Geode Capital Management LLC Raises Stock Holdings in SI-BONE, Inc. (NASDAQ:SIBN)

Geode Capital Management LLC grew its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 933,891 shares of the company’s stock after buying an additional 9,847 shares during the period. Geode Capital Management LLC owned 2.23% of SI-BONE worth $13,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SIBN. American Century Companies Inc. boosted its stake in shares of SI-BONE by 11.0% in the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock worth $33,341,000 after acquiring an additional 236,167 shares during the period. Harbor Capital Advisors Inc. grew its holdings in SI-BONE by 35.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company’s stock valued at $11,791,000 after buying an additional 220,555 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of SI-BONE during the fourth quarter valued at approximately $2,600,000. Tocqueville Asset Management L.P. purchased a new position in shares of SI-BONE in the fourth quarter worth $2,383,000. Finally, JPMorgan Chase & Co. boosted its position in shares of SI-BONE by 57.7% during the fourth quarter. JPMorgan Chase & Co. now owns 280,453 shares of the company’s stock worth $3,932,000 after acquiring an additional 102,660 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on SIBN shares. Truist Financial reiterated a “buy” rating and issued a $22.00 price target (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 stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $24.40.

Insider Buying and Selling

In other news, insider Anthony J. Recupero sold 3,311 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total value of $46,850.65. Following the sale, the insider now directly owns 284,555 shares in the company, valued at approximately $4,026,453.25. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Pisetsky sold 3,128 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $14.14, for a total value of $44,229.92. Following the transaction, the senior vice president now owns 244,878 shares of the company’s stock, valued at approximately $3,462,574.92. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,776 shares of company stock valued at $96,644 in the last ninety days. 3.90% of the stock is owned by company insiders.

SI-BONE Trading Down 2.9 %

Shares of SIBN stock opened at $13.45 on Tuesday. The company has a market cap of $570.99 million, a PE ratio of -14.62 and a beta of 1.02. SI-BONE, Inc. has a 1 year low of $11.70 and a 1 year high of $19.16. The stock’s 50 day simple moving average is $15.22 and its two-hundred day simple moving average is $14.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. Research analysts predict that SI-BONE, Inc. will post -0.78 earnings per share for the current year.

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.