Shoulder Innovations, Inc. (NYSE:SI) Short Interest Update

Shoulder Innovations, Inc. (NYSE:SI) saw a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 263,481 shares, a decrease of 13.0% from the January 29th total of 302,696 shares. Based on an average trading volume of 87,453 shares, the short-interest ratio is presently 3.0 days. Currently, 1.3% of the company’s stock are sold short. Currently, 1.3% of the company’s stock are sold short. Based on an average trading volume of 87,453 shares, the short-interest ratio is presently 3.0 days.

Shoulder Innovations Price Performance

Shares of Shoulder Innovations stock traded down $0.08 during trading hours on Thursday, reaching $13.03. The stock had a trading volume of 58,258 shares, compared to its average volume of 51,558. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $17.94. The company has a current ratio of 11.09, a quick ratio of 9.80 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $268.44 million and a PE ratio of -0.11. The stock’s 50 day moving average is $13.88 and its 200 day moving average is $13.84.

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball purchased 3,900 shares of Shoulder Innovations stock in a transaction dated Friday, December 12th. The shares were acquired at an average cost of $14.89 per share, with a total value of $58,071.00. Following the completion of the transaction, the chief executive officer owned 118,457 shares in the company, valued at approximately $1,763,824.73. This trade represents a 3.40% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 9,200 shares of company stock valued at $136,642 over the last 90 days. 1.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shoulder Innovations

A number of institutional investors have recently added to or reduced their stakes in the stock. Sectoral Asset Management Inc. raised its position in shares of 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 purchasing an additional 62,153 shares during the last quarter. Deerfield Management Company L.P. purchased a new position in Shoulder Innovations in the 3rd quarter valued at $6,056,000. Alyeska Investment Group L.P. acquired a new stake in Shoulder Innovations during the 3rd quarter worth $5,667,000. TimesSquare Capital Management LLC purchased a new stake in shares of Shoulder Innovations during the third quarter worth $4,799,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Shoulder Innovations in the third quarter valued at about $2,510,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price on shares of Shoulder Innovations in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Morgan Stanley lifted their target price on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Five 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. Based on data from MarketBeat.com, Shoulder Innovations presently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

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.