Robert Joseph Ball Sells 10,175 Shares of Shoulder Innovations (NYSE:SI) Stock

Shoulder Innovations, Inc. (NYSE:SI) CEO Robert Ball sold 10,175 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $18.45, for a total value of $187,728.75. Following the completion of the transaction, the chief executive officer directly owned 380,824 shares in the company, valued at $7,026,202.80. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shoulder Innovations Stock Performance

SI stock traded down $0.24 on Monday, hitting $18.29. The company had a trading volume of 91,227 shares, compared to its average volume of 92,625. The stock has a market cap of $380.84 million, a price-to-earnings ratio of -9.53 and a beta of -1.77. The company has a current ratio of 10.71, a quick ratio of 8.92 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $21.13 and its 200 day simple moving average is $17.37. Shoulder Innovations, Inc. has a 12-month low of $10.92 and a 12-month high of $24.59.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate 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, equities research analysts expect that Shoulder Innovations, Inc. will post -1.9 earnings per share for the current fiscal year.

Institutional Trading of Shoulder Innovations

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new position in shares of Shoulder Innovations in the second quarter worth about $30,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Shoulder Innovations during the second quarter worth about $35,000. California State Teachers Retirement System lifted its holdings in Shoulder Innovations by 412.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,941 shares of the company’s stock valued at $60,000 after purchasing an additional 2,367 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Shoulder Innovations in the first quarter valued at about $228,000. Finally, Bank of New York Mellon Corp acquired a new position in Shoulder Innovations during the first quarter worth about $252,000.

Wall Street Analysts Forecast Growth

SI has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a report on Friday, August 7th. UBS Group raised their target price on shares of Shoulder Innovations from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, BTIG Research increased their price target on Shoulder Innovations from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Shoulder Innovations currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

About Shoulder Innovations

Shoulder Innovations, Inc is a medical device company focused on developing and commercializing orthopedic products for shoulder replacement surgery. The company’s business centers on technologies intended to address conditions such as shoulder arthritis, rotator cuff damage and other causes of shoulder pain and limited mobility.

Its product portfolio includes shoulder arthroplasty systems and related implants, including the InSet glenoid technology and humeral components for anatomic and reverse shoulder replacement procedures.