Shoulder Innovations (NYSE:SI) CEO Sells $187,728.75 in Stock

Shoulder Innovations, Inc. (NYSE:SI) CEO Robert Ball sold 10,175 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $18.45, for a total value of $187,728.75. Following the completion of the sale, the chief executive officer owned 380,824 shares of the company’s stock, valued at approximately $7,026,202.80. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shoulder Innovations Stock Down 1.3%

Shares of NYSE SI traded down $0.24 during midday trading on Monday, hitting $18.29. 91,227 shares of the stock traded hands, compared to its average volume of 92,625. Shoulder Innovations, Inc. has a one year low of $10.92 and a one year high of $24.59. The business has a 50 day moving average price of $21.13 and a two-hundred day moving average price of $17.37. 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 company has a market cap of $380.84 million, a PE ratio of -9.53 and a beta of -1.77.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Shoulder Innovations

Several institutional investors have recently bought and sold shares of the stock. Sectoral Asset Management Inc. raised its holdings in Shoulder Innovations by 14.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock valued at $7,042,000 after buying an additional 62,153 shares during the last quarter. Roubaix Capital LLC boosted its holdings in shares of 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 purchasing an additional 98,305 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Shoulder Innovations in the second quarter worth about $896,000. Royal Bank of Canada raised its position in Shoulder Innovations by 7,046.3% during the 1st quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock valued at $783,000 after purchasing an additional 53,129 shares during the last quarter. Finally, KCM Capital Inc purchased a new position in shares of Shoulder Innovations during the first quarter valued at approximately $509,000.

Shoulder Innovations Company Profile

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.