39,373 Shares in SiBone $SIBN Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in shares of SiBone (NASDAQ:SIBN) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 39,373 shares of the company’s stock, valued at approximately $580,000.

A number of other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in shares of SiBone during the 3rd quarter valued at approximately $39,000. State of Wyoming bought a new position in SiBone during the second quarter valued at $55,000. Canada Pension Plan Investment Board bought a new position in SiBone during the second quarter valued at $68,000. Tower Research Capital LLC TRC increased its holdings in shares of SiBone by 198.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock worth $92,000 after buying an additional 3,258 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of SiBone during the 2nd quarter valued at about $137,000. Institutional investors own 98.11% of the company’s stock.

Insider Activity at SiBone

In other SiBone news, insider Anthony J. Recupero sold 21,049 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total value of $324,154.60. Following the completion of the sale, the insider directly owned 243,418 shares of the company’s stock, valued at $3,748,637.20. The trade was a 7.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $21.28, for a total transaction of $425,600.00. Following the completion of the transaction, the director owned 80,115 shares in the company, valued at $1,704,847.20. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 248,153 shares of company stock worth $4,244,702 over the last ninety days. 4.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SIBN. Needham & Company LLC lifted their price target on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. TD Cowen raised SiBone to a “strong-buy” rating in a research report on Tuesday, January 27th. Canaccord Genuity Group raised their price target on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley lifted their price objective on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SiBone has an average rating of “Moderate Buy” and a consensus price target of $24.33.

SiBone Stock Down 1.7%

NASDAQ:SIBN opened at $15.47 on Friday. The company has a market cap of $671.24 million, a price-to-earnings ratio of -30.33 and a beta of 0.69. SiBone has a twelve month low of $12.49 and a twelve month high of $21.89. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $17.90 and a 200-day simple moving average of $16.85.

About SiBone

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.