In a recent transaction, Jeffrey W. Dunn, a director at SI-BONE, Inc. (NASDAQ:SIBN), a medical device company, sold a total of 343 shares of the company's common stock. The sale, which took place on May 2, 2024, was not part of a discretionary trade but was required to cover tax withholding obligations related to the vesting of restricted stock units.
The shares were sold at prices ranging from $14.45 to $14.64, with the weighted average sale price reported at $14.5351. The total value of the shares sold by Dunn amounted to approximately $4,985. The transaction was executed in multiple trades and was part of a "sell to cover" transaction to satisfy the tax withholding obligations.
Following this transaction, Dunn's direct ownership in SI-BONE decreased, but he still indirectly holds a significant number of shares through The Jeffrey W. Dunn Living Trust, dated May 17, 2012. The trust holds 100,199 shares of common stock, and Dunn's direct holdings, including shares issuable upon the settlement of restricted stock units, stand at 23,566.
SI-BONE, Inc., headquartered in Santa Clara, California, specializes in surgical and medical instruments and apparatus. The company is incorporated in Delaware and has been serving the healthcare sector with its innovative solutions.
This recent stock sale by a company insider provides current and potential investors with insight into executive stock transactions at SI-BONE, Inc.
InvestingPro Insights
In light of the recent stock sale by Jeffrey W. Dunn, a director at SI-BONE, Inc. (NASDAQ:SIBN), it's pertinent for investors to consider the company's financial health and market performance. SI-BONE is currently trading near its 52-week low, which might indicate a potential buying opportunity for value investors or could reflect underlying challenges within the company. The InvestingPro Tips highlight that SI-BONE holds more cash than debt on its balance sheet and that its liquid assets exceed short-term obligations, suggesting a degree of financial stability in terms of liquidity.
However, it's important to note that analysts have revised their earnings expectations downwards for the upcoming period, and they do not anticipate the company to be profitable this year. This could be a point of concern for investors looking for short-term gains. SI-BONE does not pay a dividend, which might make it less attractive to income-focused investors. Additionally, the company has not been profitable over the last twelve months, which could be a contributing factor to the stock's current position near its 52-week low.
From a valuation standpoint, SI-BONE's market capitalization stands at approximately $601.99 million, with a negative P/E ratio of -13.89 over the last twelve months as of Q4 2023. The company's revenue growth has been robust, with a 30.52% increase over the same period, which may interest investors looking for growth potential in the healthcare sector. Despite these positive revenue figures, the company's operating income margin remains negative at -33.79%, emphasizing the challenges in turning revenue into profit.
For investors seeking more in-depth analysis and additional InvestingPro Tips for SI-BONE, Inc., there are further insights available at InvestingPro. Additionally, by using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of financial data and expert insights. As of now, there are six additional tips listed in InvestingPro for SI-BONE, which could provide further guidance for investment decisions.
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