Paradigm Capital Management Inc. NY Buys 598,300 Shares of SiBone $SIBN

Paradigm Capital Management Inc. NY grew its stake in shares of SiBone (NASDAQ:SIBN) by 113.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,126,500 shares of the company’s stock after buying an additional 598,300 shares during the period. Paradigm Capital Management Inc. NY’s holdings in SiBone were worth $14,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SIBN. First Light Asset Management LLC grew its holdings in SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after purchasing an additional 3,115,001 shares during the period. Vanguard Group Inc. raised its stake in SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after buying an additional 11,566 shares during the period. Nuveen LLC lifted its holdings in SiBone by 5.1% during the fourth quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after acquiring an additional 69,229 shares in the last quarter. Impax Asset Management Group plc grew its stake in SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after acquiring an additional 175,000 shares during the period. Finally, Cadian Capital Management LP increased its holdings in shares of SiBone by 96.8% in the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after acquiring an additional 576,100 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Stock Up 0.9%

SiBone stock opened at $16.62 on Friday. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89. The company has a fifty day simple moving average of $15.92 and a 200 day simple moving average of $15.24. The company has a market cap of $737.08 million, a P/E ratio of -42.62 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The company had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. Research analysts anticipate that SiBone will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SIBN. Truist Financial lifted their price objective on SiBone from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. TD Cowen lowered their price objective on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SiBone has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Insider Transactions at SiBone

In other SiBone news, Director Timothy E. Davis, Jr. sold 3,780 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $14.47, for a total transaction of $54,696.60. Following the transaction, the director owned 69,222 shares of the company’s stock, valued at $1,001,642.34. The trade was a 5.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael A. Pisetsky sold 3,726 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $14.63, for a total value of $54,511.38. Following the sale, the senior vice president owned 280,509 shares in the company, valued at approximately $4,103,846.67. This represents a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 36,326 shares of company stock valued at $545,661. 4.00% of the stock is owned by insiders.

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.