Harbor Capital Advisors Inc. Increases Stock Holdings in SI-BONE, Inc. (NASDAQ:SIBN)

Harbor Capital Advisors Inc. raised its stake in SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 222.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 620,490 shares of the company's stock after buying an additional 428,110 shares during the quarter. Harbor Capital Advisors Inc. owned about 1.49% of SI-BONE worth $8,674,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SIBN. Canada Pension Plan Investment Board acquired a new position in shares of SI-BONE in the 2nd quarter worth approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in SI-BONE by 24.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company's stock worth $138,000 after purchasing an additional 2,108 shares in the last quarter. Arizona State Retirement System boosted its position in shares of SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company's stock worth $141,000 after buying an additional 903 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of SI-BONE in the second quarter valued at $151,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of SI-BONE in the 2nd quarter valued at $152,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

SI-BONE Stock Down 2.2 %

Shares of SIBN stock traded down $0.31 during trading hours on Friday, reaching $13.49. 249,126 shares of the stock were exchanged, compared to its average volume of 405,689. The business's fifty day moving average is $14.37 and its two-hundred day moving average is $14.32. The firm has a market capitalization of $562.40 million, a P/E ratio of -13.36 and a beta of 1.22. SI-BONE, Inc. has a 12-month low of $11.76 and a 12-month high of $21.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12.

SI-BONE (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.04. The company had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.95 million. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. During the same period in the prior year, the firm posted ($0.30) EPS. As a group, research analysts expect that SI-BONE, Inc. will post -0.89 EPS for the current fiscal year.

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 2,087 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the sale, the insider now owns 236,717 shares of the company's stock, valued at approximately $3,354,279.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.17, for a total transaction of $29,572.79. Following the sale, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anshul Maheshwari sold 2,418 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.87, for a total transaction of $33,537.66. Following the completion of the transaction, the chief financial officer now owns 198,762 shares of the company's stock, valued at $2,756,828.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,676 shares of company stock valued at $344,967. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SIBN. Morgan Stanley lowered their target price on SI-BONE from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Needham & Company LLC lowered their price objective on shares of SI-BONE from $27.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Finally, Truist Financial cut their target price on shares of SI-BONE from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $22.67.

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.