Insider Selling: Shoulder Innovations (NYSE:SI) COO Sells 15,856 Shares of Stock

Shoulder Innovations, Inc. (NYSE:SI) COO Matthew Fraser Ahearn sold 15,856 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.68, for a total transaction of $296,190.08. Following the sale, the chief operating officer owned 273,320 shares in the company, valued at $5,105,617.60. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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, June 15th, Matthew Fraser Ahearn sold 4,144 shares of Shoulder Innovations stock. The shares were sold at an average price of $18.84, for a total transaction of $78,072.96.

Shoulder Innovations Price Performance

Shares of SI stock traded up $0.66 on Tuesday, hitting $18.78. 165,354 shares of the stock traded hands, compared to its average volume of 81,765. The firm has a market cap of $389.43 million and a price-to-earnings ratio of -0.11. Shoulder Innovations, Inc. has a 52 week low of $10.92 and a 52 week high of $19.79. The firm has a 50 day simple moving average of $14.56 and a two-hundred day simple moving average of $14.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.81 and a quick ratio of 10.04.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.03. The firm had revenue of $16.71 million for the quarter. Shoulder Innovations had a negative net margin of 81.78% and a negative return on equity of 35.11%. As a group, equities research analysts predict that Shoulder Innovations, Inc. will post -1.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SI. BTIG Research raised their target price on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Hedge Funds Weigh In On Shoulder Innovations

A number of institutional investors and hedge funds have recently made changes to their positions in SI. Deerfield Management Company L.P. purchased a new position in shares of Shoulder Innovations in the 3rd quarter worth $6,056,000. Alyeska Investment Group L.P. purchased a new position in shares of Shoulder Innovations in the 3rd quarter worth $5,667,000. TimesSquare Capital Management LLC bought a new stake in shares of Shoulder Innovations in the 3rd quarter worth about $4,799,000. Vanguard Group Inc. bought a new stake in shares of Shoulder Innovations in the 3rd quarter worth about $1,836,000. Finally, Roubaix Capital LLC lifted its holdings in shares of Shoulder Innovations by 61.9% in 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.

Shoulder Innovations Company Profile

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.