Shoulder Innovations (NYSE:SI) COO Sells 8,314 Shares of Stock

Shoulder Innovations, Inc. (NYSE:SI) COO Matthew Fraser Ahearn sold 8,314 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $20.10, for a total value of $167,111.40. Following the completion of the sale, the chief operating officer directly owned 258,362 shares of the company’s stock, valued at approximately $5,193,076.20. This represents a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Tuesday, August 18th, Matthew Fraser Ahearn sold 14,186 shares of Shoulder Innovations stock. The stock was sold at an average price of $20.99, for a total value of $297,764.14.
• 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 value of $78,072.96.
• On Friday, June 12th, Matthew Fraser Ahearn sold 15,856 shares of Shoulder Innovations stock. The stock was sold at an average price of $18.68, for a total value of $296,190.08.

Shoulder Innovations Trading Up 5.9%

Shares of NYSE SI traded up $1.17 during trading on Tuesday, hitting $21.09. 127,644 shares of the company were exchanged, compared to its average volume of 95,374. The company has a fifty day moving average price of $20.60 and a 200-day moving average price of $16.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.92 and a current ratio of 10.71. The firm has a market capitalization of $439.14 million and a PE ratio of -10.99. Shoulder Innovations, Inc. has a 12-month low of $10.92 and a 12-month high of $24.59.

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

Institutional Investors Weigh In On Shoulder Innovations

A number of institutional investors and hedge funds have recently made changes to their positions in SI. Compass Financial Management LLC purchased a new position in shares of Shoulder Innovations during the 2nd quarter worth approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Shoulder Innovations in the 3rd quarter valued at approximately $28,000. Rhumbline Advisers purchased a new stake in Shoulder Innovations in the third quarter valued at approximately $54,000. Wells Fargo & Company MN lifted its stake in Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after purchasing an additional 2,094 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Shoulder Innovations in the fourth quarter valued at $176,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BTIG Research raised their price target 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 reiterated an “overweight” rating and issued a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a research report on Friday, August 7th. Weiss Ratings raised Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 3rd. Finally, UBS Group upped their price target on Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Six research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.50.

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.