Shoulder Innovations (NYSE:SI) Major Shareholder Sells $2,272,719.24 in Stock

Key Points

• Major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of Shoulder Innovations at an average price of $22.77, generating $2.27 million. Its remaining stake fell 4.3% to 2.22 million shares.
• Gilde also sold shares in three earlier transactions, bringing its recent reported sales to roughly 158,842 shares and approximately $3.63 million in proceeds.
• Shoulder Innovations shares slipped 0.6% to $22.56. Analysts maintain a “Moderate Buy” consensus, with a $22 average price target, while the company remains unprofitable despite slightly better-than-expected quarterly losses.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of Shoulder Innovations stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $22.77, for a total transaction of $2,272,719.24. Following the completion of the transaction, the insider directly owned 2,221,640 shares in the company, valued at approximately $50,586,742.80. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Monday, August 3rd, Healthcare Holding B.V. Gilde sold 10,751 shares of Shoulder Innovations stock. The shares were sold at an average price of $22.71, for a total transaction of $244,155.21.
• On Friday, July 31st, Healthcare Holding B.V. Gilde sold 20,034 shares of Shoulder Innovations stock. The stock was sold at an average price of $22.73, for a total transaction of $455,372.82.
• 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 Down 0.6%

Shares of SI traded down $0.13 during mid-day trading on Wednesday, reaching $22.56. The company's stock had a trading volume of 54,831 shares, compared to its average volume of 92,520. The company has a market cap of $467.89 million and a price-to-earnings ratio of -0.14. The business has a fifty day moving average of $19.50 and a 200 day moving average of $15.92. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. Shoulder Innovations, Inc. has a 1 year low of $10.92 and a 1 year high of $24.59.

Shoulder Innovations (NYSE:SI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates of ($0.44) by $0.03. The business had revenue of $16.71 million for the quarter. Shoulder Innovations had a negative return on equity of 35.11% and a negative net margin of 81.78%. As a group, analysts forecast that Shoulder Innovations, Inc. will post -1.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler restated an "overweight" rating and set a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. Weiss Ratings upgraded shares of Shoulder Innovations from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday. Finally, UBS Group initiated coverage on shares of Shoulder Innovations in a research note on Tuesday, July 28th. They set a "buy" rating and a $27.00 target price for the company. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Institutional Investors Weigh In On Shoulder Innovations

Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Shoulder Innovations during the 3rd quarter worth $28,000. Rhumbline Advisers bought a new position in shares of Shoulder Innovations during the 3rd quarter valued at $54,000. Bank of America Corp DE lifted its stake in shares of Shoulder Innovations by 43.7% in the 1st quarter. Bank of America Corp DE now owns 26,983 shares of the company's stock valued at $392,000 after purchasing an additional 8,205 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Shoulder Innovations in the fourth quarter worth $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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