Robert Joseph Ball Sells 10,175 Shares of Shoulder Innovations (NYSE:SI) Stock

Shoulder Innovations, Inc. (NYSE:SI) CEO Robert Ball sold 10,175 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $18.45, for a total transaction of $187,728.75. Following the sale, the chief executive officer directly owned 380,824 shares of the company’s stock, valued at $7,026,202.80. The trade was a 2.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shoulder Innovations Stock Performance

NYSE:SI opened at $17.98 on Wednesday. The company has a market cap of $374.34 million, a P/E ratio of -9.36 and a beta of -1.77. Shoulder Innovations, Inc. has a twelve month low of $10.92 and a twelve month high of $24.59. The company’s 50-day moving average price is $21.07 and its 200-day moving average price is $17.40. The company has a current ratio of 10.71, a quick ratio of 8.92 and a debt-to-equity ratio of 0.12.

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 the consensus estimate of ($0.46) by ($0.03). The business had revenue of $17.18 million for the quarter. Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. On average, sell-side analysts forecast that Shoulder Innovations, Inc. will post -1.9 earnings per share for the current fiscal year.

Institutional Trading of Shoulder Innovations

A number of hedge funds and other institutional investors have recently made changes to their positions in SI. Compass Financial Management LLC purchased a new stake in shares of Shoulder Innovations during the 2nd quarter valued at approximately $30,000. Integrated Wealth Concepts LLC purchased a new position in Shoulder Innovations in the second quarter worth approximately $35,000. Blue Trust Inc. acquired a new stake in Shoulder Innovations during the first quarter worth $228,000. Bank of New York Mellon Corp purchased a new stake in Shoulder Innovations in the first quarter valued at $252,000. Finally, Bank of America Corp DE raised its position in Shoulder Innovations by 43.7% in the first quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock valued at $392,000 after purchasing an additional 8,205 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SI shares. Weiss Ratings raised Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating and set a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a research note on Friday, August 7th. UBS Group upped their target price on Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, BTIG Research raised their target price on Shoulder Innovations from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Shoulder Innovations presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

About Shoulder Innovations

Shoulder Innovations, Inc is a medical device company focused on developing and commercializing orthopedic products for shoulder replacement surgery. The company’s business centers on technologies intended to address conditions such as shoulder arthritis, rotator cuff damage and other causes of shoulder pain and limited mobility.

Its product portfolio includes shoulder arthroplasty systems and related implants, including the InSet glenoid technology and humeral components for anatomic and reverse shoulder replacement procedures.