Shoulder Innovations, Inc. $SI Shares Purchased by Roubaix Capital LLC

Roubaix Capital LLC raised its position in shares of Shoulder Innovations, Inc. (NYSE:SI) by 61.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 257,121 shares of the company’s stock after purchasing an additional 98,305 shares during the quarter. Roubaix Capital LLC owned about 1.24% of Shoulder Innovations worth $3,736,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Sectoral Asset Management Inc. raised its stake in shares of Shoulder Innovations by 14.4% in the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock worth $7,042,000 after buying an additional 62,153 shares in the last quarter. Deerfield Management Company L.P. bought a new position in Shoulder Innovations during the third quarter valued at about $6,056,000. Alyeska Investment Group L.P. acquired a new position in Shoulder Innovations during the third quarter worth about $5,667,000. Vanguard Group Inc. bought a new stake in Shoulder Innovations in the third quarter worth about $1,836,000. Finally, Geode Capital Management LLC raised its position in Shoulder Innovations by 17.3% in the fourth quarter. Geode Capital Management LLC now owns 110,303 shares of the company’s stock worth $1,578,000 after acquiring an additional 16,258 shares in the last quarter.

Insiders Place Their Bets

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 15,856 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was 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 approximately $5,105,617.60. The trade was a 5.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 29.00% of the company’s stock.

Shoulder Innovations Stock Performance

SI opened at $21.60 on Friday. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. The firm has a market cap of $448.00 million and a PE ratio of -0.13. The business has a fifty day simple moving average of $17.76 and a 200-day simple moving average of $15.29. Shoulder Innovations, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $23.00.

Shoulder Innovations (NYSE:SI) last announced 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 company had revenue of $16.71 million for the quarter. As a group, equities analysts predict that Shoulder Innovations, Inc. will post -1.67 EPS for the current fiscal year.

Analysts Set New Price Targets

SI has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Shoulder Innovations in a research report on Monday, June 29th. Piper Sandler reissued 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 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

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.