Insider Selling: Shoulder Innovations (NYSE:SI) Major Shareholder Sells $455,372.82 in Stock

Key Points

• Major shareholder Healthcare Holding B.V. Gilde sold 20,034 Shoulder Innovations shares at an average price of $22.73, generating $455,372.82. After the transaction, it retained 2,332,203 shares worth approximately $53.0 million.
• The sale followed another disposal of 28,245 shares on July 30 for $659,803.20, bringing Gilde’s reported recent sales to more than $1.1 million.
• Shoulder Innovations shares traded at $22.41, near their 52-week high, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and a $22.00 average price target. The company remains unprofitable, reporting a quarterly loss of $0.41 per share.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) major shareholder Healthcare Holding B.V. Gilde sold 20,034 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $22.73, for a total value of $455,372.82. Following the completion of the sale, the insider owned 2,332,203 shares in the company, valued at $53,010,974.19. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Healthcare Holding B.V. Gilde also recently made the following trade(s):

• On Thursday, July 30th, Healthcare Holding B.V. Gilde sold 28,245 shares of Shoulder Innovations stock. The stock was sold at an average price of $23.36, for a total transaction of $659,803.20.

Shoulder Innovations Stock Performance

Shares of SI traded down $0.33 during trading hours on Monday, hitting $22.41. The company's stock had a trading volume of 65,637 shares, compared to its average volume of 92,187. The business has a 50 day simple moving average of $19.19 and a two-hundred day simple moving average of $15.79. Shoulder Innovations, Inc. has a 52-week low of $10.92 and a 52-week high of $24.59. 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 company has a market cap of $464.89 million and a price-to-earnings ratio of -0.13.

Shoulder Innovations (NYSE:SI - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.41) EPS for the quarter, topping 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 company had revenue of $16.71 million during the quarter. On average, equities analysts expect that Shoulder Innovations, Inc. will post -1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SI. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. UBS Group assumed coverage on Shoulder Innovations in a report on Tuesday, July 28th. They set a "buy" rating and a $27.00 price objective on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Shoulder Innovations in a research note on Monday, June 29th. 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 stock. According to MarketBeat.com, Shoulder Innovations has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SI. Wells Fargo & Company MN raised its position in shares of Shoulder Innovations by 66.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company's stock worth $75,000 after buying an additional 2,094 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Shoulder Innovations during the third quarter worth about $28,000. Rhumbline Advisers bought a new position in Shoulder Innovations in the 3rd quarter worth about $54,000. Bank of America Corp DE increased its stake in Shoulder Innovations by 43.7% in the 1st quarter. Bank of America Corp DE now owns 26,983 shares of the company's stock worth $392,000 after acquiring an additional 8,205 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Shoulder Innovations in the 4th quarter valued at about $176,000.

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.

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