First Eagle Investment Management LLC Takes Position in SI-BONE, Inc. (NASDAQ:SIBN)

First Eagle Investment Management LLC acquired a new stake in SI-BONE, Inc. (NASDAQ:SIBN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 185,448 shares of the company's stock, valued at approximately $2,600,000. First Eagle Investment Management LLC owned approximately 0.44% of SI-BONE as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Champlain Investment Partners LLC grew its stake in shares of SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company's stock worth $39,145,000 after acquiring an additional 358,821 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in SI-BONE by 41.3% in the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company's stock valued at $10,604,000 after purchasing an additional 221,604 shares during the period. Harbor Capital Advisors Inc. grew its stake in SI-BONE by 35.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company's stock worth $11,791,000 after purchasing an additional 220,555 shares in the last quarter. Pier Capital LLC increased its holdings in SI-BONE by 23.6% during the 3rd quarter. Pier Capital LLC now owns 465,898 shares of the company's stock worth $6,513,000 after purchasing an additional 88,897 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in SI-BONE in the 4th quarter valued at about $1,233,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial reissued a "buy" rating and set a $22.00 price objective (up from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th. Cantor Fitzgerald reiterated an "overweight" rating and set a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Needham & Company LLC raised their price objective on shares of SI-BONE from $20.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $24.50.

Insider Activity

In other news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the sale, the chief financial officer now owns 189,319 shares in the company, valued at approximately $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony J. Recupero sold 3,670 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the sale, the insider now owns 222,814 shares of the company's stock, valued at $3,097,114.60. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,311 shares of company stock valued at $130,356. Insiders own 3.90% of the company's stock.

SI-BONE Stock Down 2.2 %

Shares of NASDAQ:SIBN traded down $0.34 during trading on Thursday, hitting $14.96. 263,660 shares of the company were exchanged, compared to its average volume of 350,147. The firm's 50 day moving average price is $16.59 and its 200-day moving average price is $14.83. SI-BONE, Inc. has a 12-month low of $11.70 and a 12-month high of $19.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The stock has a market capitalization of $635.10 million, a P/E ratio of -16.26 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. On average, research analysts predict that SI-BONE, Inc. will post -0.78 earnings per share for the current fiscal year.

SI-BONE Company 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.