Shoulder Innovations (NYSE:SI) COO Matthew Fraser Ahearn Sells 14,186 Shares of Stock

Key Points

• COO Matthew Fraser Ahearn sold 14,186 shares of Shoulder Innovations at an average price of $20.99, generating approximately $297,764. The transaction was made under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 5.49% to 244,176 shares.
• Shoulder Innovations shares rose 5.9% to $21.09, with the stock trading near its 52-week high of $24.59. The company reported quarterly revenue of $17.18 million but missed earnings expectations, posting a loss of $0.49 per share.
• Analyst sentiment remains favorable, with six Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $23.50; several firms recently raised their targets to between $25 and $28.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) COO Matthew Fraser Ahearn sold 14,186 shares of Shoulder Innovations stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $20.99, for a total value of $297,764.14. Following the transaction, the chief operating officer directly owned 244,176 shares of the company's stock, valued at approximately $5,125,254.24. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, August 17th, Matthew Fraser Ahearn sold 8,314 shares of Shoulder Innovations stock. The stock was sold at an average price of $20.10, for a total value of $167,111.40.
• 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 value 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 Trading Up 5.9%

Shares of NYSE:SI traded up $1.17 during trading on Tuesday, reaching $21.09. The stock had a trading volume of 127,644 shares, compared to its average volume of 95,374. The company has a quick ratio of 8.92, a current ratio of 10.71 and a debt-to-equity ratio of 0.12. The stock has a market cap of $439.14 million and a P/E ratio of -10.99. The business has a fifty day moving average price of $20.60 and a 200-day moving average price of $16.32. Shoulder Innovations, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $24.59.

Shoulder Innovations (NYSE:SI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). The business 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 anticipate that Shoulder Innovations, Inc. will post -1.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on SI shares. BTIG Research upped their price target on Shoulder Innovations from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Piper Sandler reiterated an "overweight" rating and set a $25.00 target price (up from $19.00) on shares of Shoulder Innovations in a report on Friday, August 7th. UBS Group raised their price target on shares of Shoulder Innovations from $27.00 to $28.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Shoulder Innovations from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Institutional Investors Weigh In On Shoulder Innovations

Several institutional investors and hedge funds have recently modified their holdings of the stock. Roubaix Capital LLC boosted 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 acquiring an additional 98,305 shares during the period. Sectoral Asset Management Inc. lifted its position in shares of Shoulder Innovations by 14.4% during the fourth quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company's stock worth $7,042,000 after purchasing an additional 62,153 shares in the last quarter. KCM Capital Inc purchased a new position in shares of Shoulder Innovations in the first quarter valued at $509,000. CM Management LLC acquired a new stake in Shoulder Innovations during the 4th quarter valued at $358,000. Finally, State Street Corp lifted its holdings in Shoulder Innovations by 50.6% in the 4th quarter. State Street Corp now owns 58,422 shares of the company's stock worth $835,000 after buying an additional 19,641 shares in the last quarter.

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.

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