40,745 Shares in Shoulder Innovations, Inc. $SI Acquired by Readystate Asset Management LP

Readystate Asset Management LP bought a new stake in shares of Shoulder Innovations, Inc. (NYSE:SI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 40,745 shares of the company’s stock, valued at approximately $511,000. Readystate Asset Management LP owned about 0.20% of Shoulder Innovations at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in Shoulder Innovations during the third quarter valued at $2,510,000. TimesSquare Capital Management LLC purchased a new stake in shares of Shoulder Innovations during the 3rd quarter valued at about $4,799,000. Vanguard Group Inc. bought a new position in shares of Shoulder Innovations in the 3rd quarter worth approximately $1,836,000. Rhumbline Advisers purchased a new position in shares of Shoulder Innovations in the third quarter worth approximately $54,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new stake in Shoulder Innovations during the third quarter valued at approximately $170,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SI. Morgan Stanley lifted their price target on shares of Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. Piper Sandler reissued an “overweight” rating and set a $18.00 price target on shares of Shoulder Innovations in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.60.

Shoulder Innovations Stock Up 0.1%

SI opened at $13.07 on Thursday. The stock has a market cap of $269.22 million and a price-to-earnings ratio of -0.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.80 and a current ratio of 11.09. The firm’s fifty day moving average is $14.25 and its 200 day moving average is $13.83. Shoulder Innovations, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $17.94.

Insider Buying and Selling at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball bought 3,900 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average price of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the transaction, the chief executive officer owned 118,457 shares of the company’s stock, valued at $1,763,824.73. This trade represents a 3.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 9,200 shares of company stock valued at $136,642 over the last three months. Corporate insiders own 1.71% of the company’s stock.

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.