Impax Asset Management Group plc Increases Stake in SiBone $SIBN

Impax Asset Management Group plc raised its stake in SiBone (NASDAQ:SIBN) by 48.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,025,010 shares of the company’s stock after acquiring an additional 333,249 shares during the quarter. Impax Asset Management Group plc owned approximately 2.38% of SiBone worth $15,088,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in shares of SiBone during the 3rd quarter valued at approximately $39,000. State of Wyoming acquired a new stake in SiBone during the second quarter valued at $55,000. Canada Pension Plan Investment Board purchased a new position in SiBone in the second quarter valued at $68,000. Tower Research Capital LLC TRC increased its holdings in SiBone by 198.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock valued at $92,000 after buying an additional 3,258 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of SiBone in the second quarter worth about $137,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,833 shares of SiBone stock in a transaction on Monday, November 17th. The stock was sold at an average price of $17.44, for a total transaction of $66,847.52. Following the transaction, the insider owned 268,144 shares in the company, valued at $4,676,431.36. The trade was a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $21.28, for a total transaction of $425,600.00. Following the completion of the sale, the director directly owned 80,115 shares of the company’s stock, valued at $1,704,847.20. This represents a 19.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,918 shares of company stock valued at $2,341,576 in the last 90 days. 4.00% of the stock is owned by insiders.

SiBone Stock Down 1.0%

Shares of NASDAQ SIBN opened at $15.24 on Thursday. The stock has a market cap of $661.28 million, a PE ratio of -29.88 and a beta of 0.69. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. SiBone has a 12-month low of $12.49 and a 12-month high of $21.89. The company has a 50-day moving average of $18.35 and a 200 day moving average of $16.93.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, November 10th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The business had revenue of $48.66 million for the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. As a group, sell-side analysts predict that SiBone will post -0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SIBN shares. Needham & Company LLC raised their target price on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Morgan Stanley raised their price objective on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. TD Cowen raised SiBone to a “strong-buy” rating in a research note on Tuesday, January 27th. Canaccord Genuity Group increased their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Truist Financial lifted their price target on shares of SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.33.

SiBone Profile

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.