Short Interest in Shoulder Innovations, Inc. (NYSE:SI) Declines By 13.0%

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

Wall Street Analyst Weigh In

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

Shoulder Innovations Stock Down 0.2%

NYSE:SI traded down $0.02 during trading hours on Wednesday, reaching $13.04. 5,419 shares of the stock were exchanged, compared to its average volume of 51,003. The stock has a market cap of $268.62 million and a PE ratio of -0.11. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $17.94. The firm has a 50 day moving average of $13.92 and a 200 day moving average of $13.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.09 and a quick ratio of 9.80.

Insiders Place Their Bets

In other Shoulder Innovations news, CEO Robert Joseph Ball bought 3,900 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was purchased at an average cost of $14.89 per share, with a total value of $58,071.00. Following the completion of the purchase, the chief executive officer owned 118,457 shares in the company, valued at approximately $1,763,824.73. The trade was a 3.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought 9,200 shares of company stock worth $136,642 in the last 90 days.

Institutional Investors Weigh In On Shoulder Innovations

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Shoulder Innovations during the 3rd quarter worth about $28,000. Rhumbline Advisers acquired a new position in Shoulder Innovations during the third quarter valued at approximately $54,000. Wells Fargo & Company MN grew its stake in Shoulder Innovations by 66.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after purchasing an additional 2,094 shares in the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Shoulder Innovations during the 3rd quarter worth approximately $170,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Shoulder Innovations during the 4th quarter worth approximately $176,000.

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.