Shoulder Innovations (NYSE:SI) Director Acquires $14,840.00 in Stock

Shoulder Innovations, Inc. (NYSE:SI) Director Richard Buchholz bought 1,000 shares of Shoulder Innovations stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $14.84 per share, for a total transaction of $14,840.00. Following the purchase, the director owned 13,666 shares of the company’s stock, valued at $202,803.44. The trade was a 7.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shoulder Innovations Price Performance

SI opened at $15.07 on Friday. The stock has a 50-day moving average price of $13.77 and a 200-day moving average price of $13.87. Shoulder Innovations, Inc. has a 12-month low of $10.92 and a 12-month high of $17.94. The company has a current ratio of 11.07, a quick ratio of 9.55 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $311.11 million and a P/E ratio of -0.07.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.04. The company had revenue of $14.42 million for the quarter, compared to analysts’ expectations of $12.69 million. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%. Equities analysts predict that Shoulder Innovations, Inc. will post -0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoulder Innovations

A number of hedge funds and other institutional investors have recently made changes to their positions in SI. Deerfield Management Company L.P. purchased a new stake in Shoulder Innovations in the third quarter worth $6,056,000. Alyeska Investment Group L.P. bought a new position in Shoulder Innovations in the 3rd quarter worth $5,667,000. TimesSquare Capital Management LLC purchased a new stake in shares of Shoulder Innovations in the 3rd quarter worth about $4,799,000. Federated Hermes Inc. purchased a new stake in shares of Shoulder Innovations in the 3rd quarter worth about $2,510,000. Finally, Vanguard Group Inc. bought a new stake in shares of Shoulder Innovations during the 3rd quarter valued at about $1,836,000.

Wall Street Analysts Forecast Growth

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

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.