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

Federated Hermes Inc. bought a new position in shares of Shoulder Innovations, Inc. (NYSE:SI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $2,510,000. Federated Hermes Inc. owned about 0.98% of Shoulder Innovations as of its most recent filing with the Securities & Exchange Commission.

Shoulder Innovations Stock Down 5.6%

Shares of Shoulder Innovations stock opened at $13.45 on Wednesday. The business’s fifty day moving average is $14.74. The firm has a market capitalization of $276.97 million and a PE ratio of -0.11. The company has a current ratio of 11.09, a quick ratio of 9.80 and a debt-to-equity ratio of 0.10. Shoulder Innovations, Inc. has a 12 month low of $10.92 and a 12 month high of $17.94.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SI. Piper Sandler reissued an “overweight” rating and set a $18.00 price target on shares of Shoulder Innovations in a research note on Wednesday, November 12th. Morgan Stanley upped their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Shoulder Innovations in a research note 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, Wall Street Zen upgraded Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Insiders Place Their Bets

In other news, CEO Robert Joseph Ball bought 3,900 shares of the business’s stock in a transaction on Friday, December 12th. The shares were bought at an average cost of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the acquisition, the chief executive officer owned 118,457 shares in the company, valued at approximately $1,763,824.73. This trade represents a 3.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 9,200 shares of company stock valued at $136,642 in the last quarter.

Shoulder Innovations Company 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.