Millennium Management LLC Raises Position in SI-BONE, Inc. (NASDAQ:SIBN)

Millennium Management LLC increased its holdings in SI-BONE, Inc. (NASDAQ:SIBN) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 239,949 shares of the company’s stock after buying an additional 5,933 shares during the period. Millennium Management LLC owned 0.58% of SI-BONE worth $3,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in SI-BONE in the 2nd quarter valued at approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in SI-BONE by 24.7% in 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 during the last quarter. Arizona State Retirement System raised its stake 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 valued at $141,000 after acquiring an additional 903 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in SI-BONE during the second quarter valued at approximately $151,000. Finally, Assenagon Asset Management S.A. purchased a new position in SI-BONE in the second quarter worth $152,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insiders Place Their Bets

In other SI-BONE news, insider Anthony J. Recupero sold 3,905 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total value of $54,045.20. Following the completion of the sale, the insider now owns 238,804 shares in the company, valued at $3,305,047.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,905 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.84, for a total value of $54,045.20. Following the completion of the sale, the insider now directly owns 238,804 shares of the company’s stock, valued at $3,305,047.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,019 shares of company stock valued at $349,879 in the last ninety days. Company insiders own 3.90% of the company’s stock.

SI-BONE Stock Performance

SI-BONE stock opened at $13.10 on Tuesday. The business’s 50-day moving average price is $14.75 and its two-hundred day moving average price is $14.57. The company has a quick ratio of 8.12, a current ratio of 9.17 and a debt-to-equity ratio of 0.22. The stock has a market cap of $546.14 million, a PE ratio of -12.97 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.

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

Analyst Ratings Changes

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

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.