Insider Selling: Shoulder Innovations (NYSE:SI) COO Sells $296,190.08 in Stock

Shoulder Innovations, Inc. (NYSE:SI) COO Matthew Fraser Ahearn sold 15,856 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 273,320 shares of the company’s stock, valued at $5,105,617.60. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $18.84, for a total transaction of $78,072.96.

Shoulder Innovations Trading Up 3.7%

SI opened at $18.64 on Friday. The stock has a market capitalization of $386.59 million and a P/E ratio of -0.11. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11. Shoulder Innovations, Inc. has a 12 month low of $10.92 and a 12 month high of $19.79. The firm’s fifty day simple moving average is $14.79 and its 200 day simple moving average is $14.44.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SI shares. BTIG Research lifted their target price on Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the 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

Large investors have recently modified their holdings of the business. Deerfield Management Company L.P. bought a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $6,056,000. Alyeska Investment Group L.P. bought a new stake in Shoulder Innovations during the third quarter worth about $5,667,000. TimesSquare Capital Management LLC bought a new stake in Shoulder Innovations during the third quarter worth about $4,799,000. Vanguard Group Inc. acquired a new position in Shoulder Innovations during the third quarter valued at approximately $1,836,000. Finally, Roubaix Capital LLC grew its stake in Shoulder Innovations by 61.9% in the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock valued at $3,736,000 after purchasing an additional 98,305 shares in 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.