Insider Buying: Shoulder Innovations (NYSE:SI) CEO Buys 3,900 Shares of Stock

Shoulder Innovations, Inc. (NYSE:SI) CEO Robert Joseph Ball bought 3,900 shares of the company’s 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 completion of the acquisition, the chief executive officer directly owned 118,457 shares in the company, valued at $1,763,824.73. This trade represents a 3.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Robert Joseph Ball also recently made the following trade(s):

• On Thursday, December 11th, Robert Joseph Ball purchased 3,300 shares of Shoulder Innovations stock. The stock was bought at an average cost of $14.83 per share, for a total transaction of $48,939.00.

Shoulder Innovations Stock Performance

SI stock traded up $0.12 during midday trading on Monday, hitting $14.49. The company had a trading volume of 36,567 shares, compared to its average volume of 112,664. Shoulder Innovations, Inc. has a 52 week low of $10.92 and a 52 week high of $17.94. The firm has a 50 day moving average price of $13.43.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings results on Tuesday, November 11th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The company had revenue of $11.76 million for the quarter, compared to the consensus estimate of $9.99 million. As a group, equities analysts predict that Shoulder Innovations, Inc. will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Shoulder Innovations

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

Analyst Ratings Changes

A number of research analysts recently issued reports on SI shares. Zacks Research upgraded Shoulder Innovations to a “hold” rating in a report on Tuesday, August 26th. The Goldman Sachs Group started coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued a “buy” rating and a $20.00 price objective on the stock. Weiss Ratings restated a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 8th. Jefferies Financial Group started coverage on Shoulder Innovations in a research note on Monday, August 25th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $18.00 price objective on shares of Shoulder Innovations in a research report on Wednesday, November 12th. Five investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.60.

Shoulder Innovations Company Profile

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.