KCM Capital Inc Invests $509,000 in Shoulder Innovations, Inc. $SI

KCM Capital Inc purchased a new stake in shares of Shoulder Innovations, Inc. (NYSE:SI) in the first quarter, Holdings Channel reports. The firm purchased 35,000 shares of the company’s stock, valued at approximately $509,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Roubaix Capital LLC grew its stake in Shoulder Innovations by 61.9% in the 1st 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 during the period. Bank of New York Mellon Corp purchased a new position in shares of Shoulder Innovations in the 1st quarter worth about $252,000. Blue Trust Inc. bought a new position in Shoulder Innovations during the first quarter valued at about $228,000. Millennium Management LLC purchased a new stake in Shoulder Innovations during the fourth quarter worth about $1,316,000. Finally, Walleye Capital LLC increased its holdings in Shoulder Innovations by 30.1% during the fourth quarter. Walleye Capital LLC now owns 93,434 shares of the company’s stock worth $1,336,000 after buying an additional 21,619 shares during the last quarter.

Insider Buying and Selling

In related news, COO Matthew Fraser Ahearn sold 15,856 shares of the firm’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 value of $296,190.08. Following the completion of the transaction, the chief operating officer directly owned 273,320 shares of the company’s stock, valued at approximately $5,105,617.60. This trade represents 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. Company insiders own 29.00% of the company’s stock.

Shoulder Innovations Trading Down 3.1%

Shares of SI opened at $20.15 on Thursday. Shoulder Innovations, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $23.00. The business has a 50-day moving average of $18.19 and a 200 day moving average of $15.42. The firm has a market cap of $417.97 million and a P/E ratio of -0.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.04 and a current ratio of 11.81.

Shoulder Innovations (NYSE:SI) last released 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 business 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, research analysts forecast that Shoulder Innovations, Inc. will post -1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shoulder Innovations in a research note on Monday, June 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Shoulder Innovations currently has a consensus rating of “Moderate Buy” and a consensus price target 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.