Insider Selling: 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 company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 380,824 shares in the company, valued at $7,026,202.80. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shoulder Innovations Stock Down 0.4%

Shoulder Innovations stock opened at $17.88 on Thursday. Shoulder Innovations, Inc. has a 12 month low of $10.92 and a 12 month high of $24.59. The stock has a fifty day simple moving average of $21.02 and a two-hundred day simple moving average of $17.43. The company has a current ratio of 10.71, a quick ratio of 8.92 and a debt-to-equity ratio of 0.12. The firm has a market cap of $372.24 million, a price-to-earnings ratio of -9.31 and a beta of -1.77.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings results 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 business had revenue of $17.18 million for the quarter. Equities analysts predict that Shoulder Innovations, Inc. will post -1.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoulder Innovations

Several institutional investors and hedge funds have recently bought and sold shares of SI. Royal Bank of Canada raised 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 worth $783,000 after buying an additional 53,129 shares during the period. Roubaix Capital LLC grew its stake in shares of Shoulder Innovations by 61.9% during the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock valued at $3,736,000 after acquiring an additional 98,305 shares during the period. Sectoral Asset Management Inc. increased its holdings in Shoulder Innovations by 14.4% in the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock worth $7,042,000 after acquiring an additional 62,153 shares in the last quarter. KCM Capital Inc bought a new stake in Shoulder Innovations during the 1st quarter worth approximately $509,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Shoulder Innovations during the 2nd quarter worth approximately $35,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SI. UBS Group raised their price target on shares of Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 3rd. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $19.00) on shares of Shoulder Innovations in a report on Friday, August 7th. Finally, BTIG Research lifted their target price on shares of Shoulder Innovations from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Shoulder Innovations has a consensus rating of “Moderate Buy” and a consensus price target 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.