Paradigm Capital Management Inc. NY Increases Holdings in SI-BONE, Inc. (NASDAQ:SIBN)

Paradigm Capital Management Inc. NY increased its holdings in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 24.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,349,400 shares of the company’s stock after purchasing an additional 267,100 shares during the quarter. Paradigm Capital Management Inc. NY owned approximately 3.24% of SI-BONE worth $17,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Champlain Investment Partners LLC grew its holdings in SI-BONE by 104.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after buying an additional 1,255,610 shares in the last quarter. Bellevue Group AG grew its stake in SI-BONE by 810.5% during the first quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock valued at $18,661,000 after acquiring an additional 1,014,756 shares in the last quarter. American Century Companies Inc. increased its holdings in SI-BONE by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after acquiring an additional 368,637 shares during the last quarter. Wellington Management Group LLP lifted its stake in SI-BONE by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock worth $17,150,000 after purchasing an additional 211,209 shares in the last quarter. Finally, Pier Capital LLC boosted its holdings in shares of SI-BONE by 80.7% during the 2nd quarter. Pier Capital LLC now owns 377,001 shares of the company’s stock valued at $4,875,000 after purchasing an additional 168,417 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

SI-BONE Price Performance

NASDAQ:SIBN opened at $14.85 on Tuesday. The firm has a market capitalization of $611.89 million, a price-to-earnings ratio of -13.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12. The business has a 50 day simple moving average of $15.44 and a 200-day simple moving average of $14.84. SI-BONE, Inc. has a 1 year low of $11.76 and a 1 year high of $22.56.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping 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 company had revenue of $39.97 million during the quarter, compared to the consensus estimate of $38.95 million. During the same period last year, the company earned ($0.30) earnings per share. Equities analysts forecast that SI-BONE, Inc. will post -0.89 EPS for the current year.

Insider Buying and Selling

In related news, insider Anthony J. Recupero sold 2,087 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the sale, the insider now directly owns 236,717 shares of the company’s stock, valued at approximately $3,354,279.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Laura Francis sold 9,967 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.84, for a total value of $137,943.28. Following the transaction, the chief executive officer now directly owns 492,923 shares in the company, valued at $6,822,054.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony J. Recupero sold 2,087 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the sale, the insider now owns 236,717 shares of the company’s stock, valued at approximately $3,354,279.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,023 shares of company stock valued at $347,749. Company insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reduced their target price on SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Truist Financial cut their price target on SI-BONE from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Morgan Stanley decreased their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE presently has an average rating of “Buy” and a consensus price target of $23.00.

About SI-BONE

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.