Federated Hermes Inc. Buys Shares of 200,000 Shoulder Innovations, Inc. $SI

Federated Hermes Inc. purchased a new position in shares of Shoulder Innovations, Inc. (NYSE:SI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 200,000 shares of the company’s stock, valued at approximately $2,510,000.

Wall Street Analyst Weigh In

Several brokerages have commented on SI. Weiss Ratings restated a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Morgan Stanley raised their price objective on shares of Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Wall Street Zen raised shares of Shoulder Innovations from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target on shares of Shoulder Innovations in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Shoulder Innovations presently has an average rating of “Moderate Buy” and an average price target of $20.60.

Insider Activity

In related news, CEO Robert Joseph Ball acquired 3,900 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $14.89 per share, with a total value of $58,071.00. Following the acquisition, the chief executive officer owned 118,457 shares in the company, valued at $1,763,824.73. This represents a 3.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders purchased 9,200 shares of company stock worth $136,642.

Shoulder Innovations Price Performance

Shares of NYSE:SI opened at $13.45 on Wednesday. The company has a market cap of $276.97 million and a PE ratio of -0.11. The business’s 50-day simple moving average is $14.74. The company has a quick ratio of 9.80, a current ratio of 11.09 and a debt-to-equity ratio of 0.10. Shoulder Innovations, Inc. has a one year low of $10.92 and a one year high of $17.94.

Shoulder Innovations (NYSE:SI) last released its earnings results on Tuesday, November 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The company had revenue of $11.76 million during the quarter, compared to analyst estimates of $9.99 million. On average, analysts anticipate that Shoulder Innovations, Inc. will post -0.56 earnings per share for the current fiscal year.

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.