Key Points
- Shoulder Innovations COO Matthew Fraser Ahearn sold shares twice in mid-June, including 15,856 shares on June 12 at $18.68 each and another 4,144 shares on June 15 at $18.84. The June 12 sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the June 12 transaction, Ahearn still owned 273,320 shares valued at about $5.11 million, and the sale reduced his stake by 5.48%. The stock recently traded near its 1-year high, opening at $18.78 versus a 52-week range of $10.92 to $19.79.
- Shoulder Innovations recently beat quarterly earnings expectations with EPS of -$0.41 versus the -$0.44 consensus, on revenue of $16.71 million. Analysts remain cautiously positive, with a consensus rating of Moderate Buy and an average price target of $21.00.
Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) COO Matthew Fraser Ahearn sold 4,144 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $18.84, for a total value of $78,072.96. Following the transaction, the chief operating officer owned 269,176 shares in the company, valued at approximately $5,071,275.84. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthew Fraser Ahearn also recently made the following trade(s):
- On Friday, June 12th, Matthew Fraser Ahearn sold 15,856 shares of Shoulder Innovations stock. The stock was sold at an average price of $18.68, for a total value of $296,190.08.
Shoulder Innovations Price Performance
Shares of NYSE SI opened at $18.78 on Wednesday. The firm has a market cap of $389.40 million and a P/E ratio of -0.11. The company has a current ratio of 11.81, a quick ratio of 10.04 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 $19.79. The business's 50 day moving average is $14.64 and its 200-day moving average is $14.40.
Shoulder Innovations (NYSE:SI - Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.44) by $0.03. The company 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%. Equities research analysts predict that Shoulder Innovations, Inc. will post -1.67 earnings per share for the current year.
Hedge Funds Weigh In On Shoulder Innovations
A number of hedge funds have recently added to or reduced their stakes in the stock. Sectoral Asset Management Inc. increased its stake in Shoulder Innovations by 14.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company's stock worth $7,042,000 after acquiring an additional 62,153 shares during the period. Deerfield Management Company L.P. bought a new position in Shoulder Innovations during the 3rd quarter worth $6,056,000. Alyeska Investment Group L.P. bought a new position in Shoulder Innovations during the 3rd quarter worth $5,667,000. TimesSquare Capital Management LLC bought a new position in Shoulder Innovations during the 3rd quarter worth $4,799,000. Finally, Roubaix Capital LLC increased its stake in Shoulder Innovations by 61.9% during 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.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SI. Piper Sandler reiterated an "overweight" rating and set a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th. BTIG Research raised their price objective on Shoulder Innovations from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, March 11th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.00.
Check Out Our Latest Stock Analysis on Shoulder Innovations
About Shoulder Innovations
(
Get Free Report)
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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