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 business’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the completion of the acquisition, the chief executive officer owned 278,866 shares of the company’s stock, valued at $4,233,185.88. The trade was a 0.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shoulder Innovations Price Performance

Shoulder Innovations stock opened at $15.20 on Wednesday. Shoulder Innovations, Inc. has a 52 week low of $10.92 and a 52 week high of $17.94. The company’s 50 day moving average price is $13.76 and its two-hundred day moving average price is $13.85. The stock has a market cap of $313.88 million and a P/E ratio of -0.07. The company has a quick ratio of 9.55, a current ratio of 11.07 and a debt-to-equity ratio of 0.11.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on SI. Morgan Stanley lifted their target price on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. BTIG Research increased their price target on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Finally, Weiss Ratings restated a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Shoulder Innovations currently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Hedge Funds Weigh In On Shoulder Innovations

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Shoulder Innovations during the third quarter valued at approximately $28,000. Rhumbline Advisers bought a new position in Shoulder Innovations in the 3rd quarter valued at $54,000. Wells Fargo & Company MN boosted its holdings in Shoulder Innovations by 66.3% in the 4th 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 during the period. Renaissance Technologies LLC purchased a new position in shares of Shoulder Innovations during the 4th quarter valued at $176,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Shoulder Innovations in the third quarter worth $170,000.

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.