Sectoral Asset Management Inc. Has $7.04 Million Stock Position in Shoulder Innovations, Inc. $SI

Sectoral Asset Management Inc. raised its stake in shares of Shoulder Innovations, Inc. (NYSE:SI) by 14.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 492,435 shares of the company’s stock after acquiring an additional 62,153 shares during the quarter. Shoulder Innovations makes up 5.6% of Sectoral Asset Management Inc.’s portfolio, making the stock its 4th largest holding. Sectoral Asset Management Inc. owned about 2.39% of Shoulder Innovations worth $7,042,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Shoulder Innovations during the third quarter valued at $28,000. Rhumbline Advisers bought a new position in shares of Shoulder Innovations during the third quarter valued at $54,000. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Shoulder Innovations during the third quarter valued at $170,000. CM Management LLC bought a new position in shares of Shoulder Innovations during the fourth quarter valued at $358,000. Finally, Bank of America Corp DE bought a new position in shares of Shoulder Innovations during the third quarter valued at $322,000.

Shoulder Innovations Stock Performance

Shoulder Innovations stock opened at $14.67 on Monday. The stock has a 50-day simple moving average of $14.28 and a 200 day simple moving average of $14.14. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. Shoulder Innovations, Inc. has a 12-month low of $10.92 and a 12-month high of $17.94. The stock has a market capitalization of $304.30 million and a price-to-earnings ratio of -0.09.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, CFO Jeffrey S. Points purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $15.00 per share, with a total value of $30,000.00. Following the completion of the acquisition, the chief financial officer directly owned 70,785 shares of the company’s stock, valued at $1,061,775. This represents a 2.91% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Joseph Ball acquired 2,200 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $15.18 per share, with a total value of $33,396.00. Following the completion of the transaction, the chief executive officer owned 278,866 shares of the company’s stock, valued at approximately $4,233,185.88. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 5,200 shares of company stock valued at $78,236 over the last ninety days. 29.00% of the stock is currently owned by company insiders.

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.