Insider Selling: Shoulder Innovations (NYSE:SI) COO Sells $297,764.14 in Stock

Shoulder Innovations, Inc. (NYSE:SI) COO Matthew Fraser Ahearn sold 14,186 shares of Shoulder Innovations stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total transaction of $297,764.14. Following the sale, the chief operating officer directly owned 244,176 shares of the company’s stock, valued at $5,125,254.24. This trade represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Fraser Ahearn also recently made the following trade(s):

• On Monday, August 17th, Matthew Fraser Ahearn sold 8,314 shares of Shoulder Innovations stock. The stock was sold at an average price of $20.10, for a total transaction of $167,111.40.
• On Monday, June 15th, Matthew Fraser Ahearn sold 4,144 shares of Shoulder Innovations stock. The stock was sold at an average price of $18.84, for a total value of $78,072.96.
• On Friday, June 12th, Matthew Fraser Ahearn sold 15,856 shares of Shoulder Innovations stock. The shares were sold at an average price of $18.68, for a total value of $296,190.08.

Shoulder Innovations Stock Down 5.7%

SI opened at $21.94 on Friday. Shoulder Innovations, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $24.59. The business has a 50-day moving average of $20.88 and a 200-day moving average of $16.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 10.71 and a quick ratio of 8.92. The company has a market capitalization of $456.77 million and a PE ratio of -11.43.

Shoulder Innovations (NYSE:SI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.03). The firm had revenue of $17.18 million during the quarter. Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%. Equities research analysts forecast that Shoulder Innovations, Inc. will post -1.9 EPS for the current fiscal year.

Institutional Trading of Shoulder Innovations

Several large investors have recently modified their holdings of the company. Roubaix Capital LLC lifted its position in Shoulder Innovations by 61.9% during the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after acquiring an additional 98,305 shares during the last quarter. Sectoral Asset Management Inc. grew its position in shares of Shoulder Innovations by 14.4% in the fourth quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock valued at $7,042,000 after purchasing an additional 62,153 shares during the last quarter. KCM Capital Inc acquired a new stake in shares of Shoulder Innovations in the first quarter valued at about $509,000. Bank of America Corp DE increased its stake in shares of Shoulder Innovations by 43.7% in the first quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after purchasing an additional 8,205 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of Shoulder Innovations by 7,046.3% during the 1st quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock worth $783,000 after purchasing an additional 53,129 shares during the last quarter.

Wall Street Analyst Weigh In

SI has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. BTIG Research upped their price objective on shares of Shoulder Innovations from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Piper Sandler reissued an “overweight” rating and set a $25.00 target price (up from $19.00) on shares of Shoulder Innovations in a research report on Friday, August 7th. Finally, UBS Group raised their target price on Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 10th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.50.

About Shoulder Innovations

Shoulder Innovations (NYSE:SI) is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.