KCM Capital Inc Takes $509,000 Position in Shoulder Innovations, Inc. $SI

KCM Capital Inc bought a new stake in shares of Shoulder Innovations, Inc. (NYSE:SI) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 35,000 shares of the company’s stock, valued at approximately $509,000. KCM Capital Inc owned about 0.17% of Shoulder Innovations as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Shoulder Innovations in the 3rd quarter valued at $28,000. Rhumbline Advisers acquired a new position in shares of Shoulder Innovations during the 3rd quarter worth about $54,000. Wells Fargo & Company MN lifted 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 valued at $75,000 after buying an additional 2,094 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Shoulder Innovations in the fourth quarter valued at about $176,000. Finally, Blue Trust Inc. acquired a new stake in Shoulder Innovations during the first quarter worth approximately $228,000.

Insider Activity

In related news, COO Matthew Fraser Ahearn sold 15,856 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.68, for a total transaction of $296,190.08. Following the completion of the sale, the chief operating officer owned 273,320 shares in the company, valued at approximately $5,105,617.60. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SI has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Shoulder Innovations in a report on Monday, June 29th. Piper Sandler reaffirmed 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. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Shoulder Innovations Stock Performance

SI opened at $20.15 on Thursday. Shoulder Innovations, Inc. has a 1-year low of $10.92 and a 1-year high of $23.00. The company has a market cap of $417.97 million and a price-to-earnings ratio of -0.12. The company’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $15.42. 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 (NYSE:SI) last posted 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 net margin of 81.78% and a negative return on equity of 35.11%. On average, analysts expect that Shoulder Innovations, Inc. will post -1.67 EPS for the current fiscal year.

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.