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

Shoulder Innovations, Inc. (NYSE:SI) CEO Robert Joseph Ball bought 2,200 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer owned 278,866 shares in the company, valued at approximately $4,233,185.88. This represents a 0.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shoulder Innovations Stock Down 0.5%

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

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

Analysts Set New Price Targets

Several research analysts have weighed in on SI shares. Morgan Stanley upped their price objective 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. BTIG Research boosted their target price on Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Shoulder Innovations currently has an average rating of “Moderate Buy” and an average target price of $20.80.

Institutional Trading of Shoulder Innovations

Several large investors have recently modified their holdings of the company. Millennium Management LLC bought a new position in shares of Shoulder Innovations in the fourth quarter worth about $1,316,000. Walleye Capital LLC grew its holdings in Shoulder Innovations by 30.1% in the 4th quarter. Walleye Capital LLC now owns 93,434 shares of the company’s stock valued at $1,336,000 after buying an additional 21,619 shares during the last quarter. State Street Corp increased its position in Shoulder Innovations by 50.6% in the 4th quarter. State Street Corp now owns 58,422 shares of the company’s stock worth $835,000 after buying an additional 19,641 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after buying an additional 2,094 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Shoulder Innovations in the fourth quarter valued at approximately $234,000.

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.