Shoulder Innovations (NYSE:SI) CEO Robert Joseph Ball Buys 2,200 Shares

Shoulder Innovations, Inc. (NYSE:SI) CEO Robert Joseph Ball purchased 2,200 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the completion of the transaction, the chief executive officer directly owned 278,866 shares in the company, valued at approximately $4,233,185.88. The trade was a 0.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shoulder Innovations Stock Performance

Shares of NYSE SI traded down $0.08 during mid-day trading on Tuesday, hitting $15.20. The company had a trading volume of 143,803 shares, compared to its average volume of 63,386. Shoulder Innovations, Inc. has a 12 month low of $10.92 and a 12 month high of $17.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.07 and a quick ratio of 9.55. The firm has a market cap of $313.85 million and a P/E ratio of -0.07. The business’s 50-day simple moving average is $13.75 and its 200-day simple moving average is $13.85.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04. The company had revenue of $14.42 million during the quarter, compared to the consensus estimate of $12.69 million. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%. As a group, analysts predict that Shoulder Innovations, Inc. will post -0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoulder Innovations

Hedge funds have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. acquired a new position in Shoulder Innovations during the 3rd quarter valued at about $6,056,000. Alyeska Investment Group L.P. acquired a new position in Shoulder Innovations in the third quarter valued at approximately $5,667,000. TimesSquare Capital Management LLC bought a new position in Shoulder Innovations in the third quarter valued at approximately $4,799,000. Federated Hermes Inc. acquired a new stake in Shoulder Innovations during the 3rd quarter worth $2,510,000. Finally, Vanguard Group Inc. bought a new position in shares of Shoulder Innovations in the 3rd quarter worth $1,836,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SI. BTIG Research increased 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. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Finally, Morgan Stanley raised their target price on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

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.