Matthew Fraser Ahearn Sells 8,314 Shares of Shoulder Innovations (NYSE:SI) Stock

Shoulder Innovations, Inc. (NYSE:SI) COO Matthew Fraser Ahearn sold 8,314 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $20.10, for a total transaction of $167,111.40. Following the sale, the chief operating officer directly owned 258,362 shares of the company’s stock, valued at $5,193,076.20. The trade was a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 18th, Matthew Fraser Ahearn sold 14,186 shares of Shoulder Innovations stock. The stock was sold at an average price of $20.99, for a total transaction of $297,764.14.
• On Monday, June 15th, Matthew Fraser Ahearn sold 4,144 shares of Shoulder Innovations stock. The stock was sold at an average price of $18.84, for a total transaction of $78,072.96.
• On Friday, June 12th, Matthew Fraser Ahearn sold 15,856 shares of Shoulder Innovations stock. The shares were sold at an average price of $18.68, for a total transaction of $296,190.08.

Shoulder Innovations Stock Up 8.8%

SI stock opened at $22.98 on Thursday. 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 50-day moving average of $20.82 and a two-hundred day moving average of $16.43. Shoulder Innovations, Inc. has a 12 month low of $10.92 and a 12 month high of $24.59. The company has a market cap of $478.46 million and a price-to-earnings ratio of -11.97.

Shoulder Innovations (NYSE:SI) last issued its earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.03). The company had revenue of $17.18 million for the quarter. Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%. As a group, analysts forecast that Shoulder Innovations, Inc. will post -1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoulder Innovations

Several large investors have recently modified their holdings of SI. Compass Financial Management LLC acquired a new stake in shares of Shoulder Innovations during the 2nd quarter worth about $30,000. Wells Fargo & Company MN lifted its position in Shoulder Innovations by 66.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after buying an additional 2,094 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Shoulder Innovations in the third quarter valued at about $28,000. Rhumbline Advisers acquired a new stake in shares of Shoulder Innovations during the third quarter valued at about $54,000. Finally, Bank of America Corp DE increased its position 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 during the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on SI shares. UBS Group upped their target price on 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 Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. BTIG Research upped their price objective on shares of Shoulder Innovations from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a research report on Friday, August 7th. Six 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. According to MarketBeat.com, Shoulder Innovations presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

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.