Matthew Fraser Ahearn Sells 15,856 Shares of Shoulder Innovations (NYSE:SI) Stock

Shoulder Innovations, Inc. (NYSE:SI) COO Matthew Fraser Ahearn sold 15,856 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.68, for a total transaction of $296,190.08. Following the transaction, the chief operating officer directly owned 273,320 shares in the company, valued at $5,105,617.60. This trade represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Fraser Ahearn also recently made the following trade(s):

• On Monday, June 15th, Matthew Fraser Ahearn sold 4,144 shares of Shoulder Innovations stock. The shares were sold at an average price of $18.84, for a total transaction of $78,072.96.

Shoulder Innovations Stock Down 3.8%

NYSE SI opened at $17.96 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.04 and a current ratio of 11.81. The firm has a 50-day simple moving average of $14.71 and a 200 day simple moving average of $14.42. Shoulder Innovations, Inc. has a twelve month low of $10.92 and a twelve month high of $19.79. The stock has a market cap of $372.55 million and a PE ratio of -0.11.

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

Wall Street Analysts Forecast Growth

SI has been the subject of several research reports. Piper Sandler reiterated 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. BTIG Research increased their target price on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Shoulder Innovations has an average rating of “Moderate Buy” and an average price target of $21.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake in Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after purchasing an additional 2,094 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Shoulder Innovations during the third quarter worth about $28,000. Rhumbline Advisers bought a new position in Shoulder Innovations during the third quarter worth about $54,000. Bank of America Corp DE lifted its stake in Shoulder Innovations by 43.7% during the first 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 during the period. Finally, Renaissance Technologies LLC bought a new position in Shoulder Innovations during the fourth quarter worth about $176,000.

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.