Insider Selling: Shoulder Innovations (NYSE:SI) COO Sells 4,144 Shares of Stock

Shoulder Innovations, Inc. (NYSE:SI) COO Matthew Fraser Ahearn sold 4,144 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $18.84, for a total value of $78,072.96. Following the transaction, the chief operating officer owned 269,176 shares in the company, valued at approximately $5,071,275.84. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 3.6%

SI traded up $0.66 on Tuesday, hitting $18.78. 165,354 shares of the company were exchanged, compared to its average volume of 81,765. The firm has a fifty day simple moving average of $14.56 and a two-hundred day simple moving average of $14.38. 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, Inc. has a 12 month low of $10.92 and a 12 month high of $19.79. The stock has a market capitalization of $389.43 million and a PE ratio of -0.11.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping 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 return on equity of 35.11% and a negative net margin of 81.78%. Sell-side analysts expect that Shoulder Innovations, Inc. will post -1.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BTIG Research lifted their price objective on Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Piper Sandler restated an “overweight” rating and issued a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Shoulder Innovations has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at approximately $28,000. Rhumbline Advisers purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at approximately $54,000. Wells Fargo & Company MN lifted its stake in shares of Shoulder Innovations by 66.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after purchasing an additional 2,094 shares during the period. Renaissance Technologies LLC purchased a new position in Shoulder Innovations during the fourth quarter valued at $176,000. Finally, Blue Trust Inc. purchased a new position in Shoulder Innovations during the first quarter valued at $228,000.

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.