Shoulder Innovations (NYSE:SI) Stock Price Up 11% – Here’s What Happened

Shares of Shoulder Innovations, Inc. (NYSE:SI) shot up 11% during trading on Monday . The stock traded as high as $22.53 and last traded at $22.3830. Approximately 173,098 shares were traded during trading, an increase of 16% from the average daily volume of 149,042 shares. The stock had previously closed at $20.16.

Wall Street Analysts Forecast Growth

SI has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Shoulder Innovations in a research note on Monday, June 29th. Piper Sandler reiterated an “overweight” rating and issued 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Shoulder Innovations has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Shoulder Innovations Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 11.81 and a quick ratio of 10.04. The stock has a market cap of $452.42 million and a PE ratio of -0.13. The business has a 50 day moving average price of $17.22 and a two-hundred day moving average price of $15.15.

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

Insider Buying and Selling at Shoulder Innovations

In related news, COO Matthew Fraser Ahearn sold 4,144 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $18.84, for a total value of $78,072.96. Following the sale, the chief operating officer directly owned 269,176 shares of the company’s stock, valued at $5,071,275.84. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Shoulder Innovations

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of Shoulder Innovations by 43.7% during the first quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock valued at $392,000 after acquiring an additional 8,205 shares in the last quarter. Royal Bank of Canada boosted its holdings in 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 acquiring an additional 53,129 shares in the last quarter. KCM Capital Inc purchased a new position in Shoulder Innovations during the 1st quarter valued at $509,000. Roubaix Capital LLC raised its holdings in Shoulder Innovations by 61.9% in the 1st 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 in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Shoulder Innovations in the 1st quarter worth $252,000.

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.