Insider Selling: Shoulder Innovations (NYSE:SI) Major Shareholder Sells $455,372.82 in Stock

Shoulder Innovations, Inc. (NYSE:SI) major shareholder Healthcare Holding B.V. Gilde sold 20,034 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $22.73, for a total transaction of $455,372.82. Following the completion of the sale, the insider owned 2,332,203 shares of the company’s stock, valued at $53,010,974.19. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Healthcare Holding B.V. Gilde also recently made the following trade(s):

• On Tuesday, August 4th, Healthcare Holding B.V. Gilde sold 99,812 shares of Shoulder Innovations stock. The stock was sold at an average price of $22.77, for a total value of $2,272,719.24.
• On Monday, August 3rd, Healthcare Holding B.V. Gilde sold 10,751 shares of Shoulder Innovations stock. The shares were sold at an average price of $22.71, for a total value of $244,155.21.
• On Thursday, July 30th, Healthcare Holding B.V. Gilde sold 28,245 shares of Shoulder Innovations stock. The shares were sold at an average price of $23.36, for a total value of $659,803.20.

Shoulder Innovations Stock Down 0.6%

SI stock opened at $22.56 on Thursday. Shoulder Innovations, Inc. has a 1-year low of $10.92 and a 1-year high of $24.59. The business’s 50 day simple moving average is $19.65 and its 200 day simple moving average is $15.98. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $467.89 million and a PE ratio of -0.14.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.03. The business had revenue of $16.71 million during the quarter. Shoulder Innovations had a negative return on equity of 35.11% and a negative net margin of 81.78%. As a group, research analysts anticipate that Shoulder Innovations, Inc. will post -1.67 EPS for the current year.

Institutional Trading of Shoulder Innovations

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its position in shares of Shoulder Innovations by 43.7% during the 1st quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after purchasing an additional 8,205 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Shoulder Innovations by 7,046.3% in the first quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock valued at $783,000 after buying an additional 53,129 shares during the period. KCM Capital Inc acquired a new stake in Shoulder Innovations during the first quarter worth approximately $509,000. Roubaix Capital LLC grew its position in Shoulder Innovations by 61.9% during the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after buying an additional 98,305 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Shoulder Innovations during the 1st quarter worth $252,000.

Analysts Set New Price Targets

Several research analysts have weighed in on SI shares. UBS Group initiated coverage on shares of Shoulder Innovations in a report on Tuesday, July 28th. They issued a “buy” rating and a $27.00 price target on the stock. Weiss Ratings upgraded Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday. Finally, Piper Sandler reissued an “overweight” rating and set a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Shoulder Innovations presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

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.