Insider Buying: Shoulder Innovations (NYSE:SI) CFO Buys 1,005 Shares of Stock

Shoulder Innovations, Inc. (NYSE:SI) CFO Jeffrey Points bought 1,005 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $14.98 per share, for a total transaction of $15,054.90. Following the purchase, the chief financial officer owned 54,445 shares in the company, valued at $815,586.10. This represents a 1.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shoulder Innovations Stock Up 0.8%

NYSE:SI traded up $0.12 on Monday, reaching $14.49. 36,567 shares of the company’s stock traded hands, compared to its average volume of 112,664. The stock’s 50-day moving average is $13.43. Shoulder Innovations, Inc. has a 12 month low of $10.92 and a 12 month high of $17.94.

Shoulder Innovations (NYSE:SI) last released its quarterly earnings data on Tuesday, November 11th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The firm had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $9.99 million. Sell-side analysts anticipate that Shoulder Innovations, Inc. will post -0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 8th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price on shares of Shoulder Innovations in a research note on Wednesday, November 12th. Wall Street Zen upgraded shares of Shoulder Innovations from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Morgan Stanley increased their price objective on shares of Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Zacks Research raised Shoulder Innovations to a “hold” rating in a report on Tuesday, August 26th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Shoulder Innovations during the 3rd quarter worth approximately $28,000. Rhumbline Advisers purchased a new position in shares of Shoulder Innovations in the third quarter valued at approximately $54,000. Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of Shoulder Innovations in the third quarter worth approximately $170,000. Bank of America Corp DE purchased a new stake in shares of Shoulder Innovations during the third quarter worth approximately $322,000. Finally, Monashee Investment Management LLC acquired a new position in Shoulder Innovations in the 3rd quarter valued at $502,000.

Shoulder Innovations Company Profile

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.