TimesSquare Capital Management LLC Acquires Shares of 382,367 Shoulder Innovations, Inc. $SI

TimesSquare Capital Management LLC bought a new position in Shoulder Innovations, Inc. (NYSE:SI) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 382,367 shares of the company’s stock, valued at approximately $4,799,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in Shoulder Innovations during the 3rd quarter valued at approximately $54,000. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Shoulder Innovations during the 3rd quarter valued at approximately $170,000. Finally, Federated Hermes Inc. purchased a new position in shares of Shoulder Innovations in the third quarter valued at $2,510,000.

Insider Buying and Selling at Shoulder Innovations

In related news, CEO Robert Joseph Ball purchased 3,900 shares of Shoulder Innovations stock in a transaction that occurred on Friday, December 12th. The shares were bought at an average price of $14.89 per share, with a total value of $58,071.00. Following the purchase, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. This represents a 3.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 9,200 shares of company stock worth $136,642 in the last ninety days.

Analyst Ratings Changes

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

Shoulder Innovations Trading Down 4.2%

SI opened at $13.14 on Monday. Shoulder Innovations, Inc. has a one year low of $10.92 and a one year high of $17.94. 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 stock has a market cap of $270.68 million and a price-to-earnings ratio of -0.11. The stock’s 50 day moving average price is $14.36 and its 200-day moving average price is $13.86.

Shoulder Innovations Profile

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.