TimesSquare Capital Management LLC Takes Position in Shoulder Innovations, Inc. $SI

TimesSquare Capital Management LLC bought a new position in 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 firm bought 382,367 shares of the company’s stock, valued at approximately $4,799,000. TimesSquare Capital Management LLC owned about 1.88% of Shoulder Innovations at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers bought a new stake in shares of Shoulder Innovations in the third quarter worth $54,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in Shoulder Innovations in the third quarter worth about $170,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Shoulder Innovations during the 3rd quarter valued at about $2,510,000.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball purchased 3,900 shares of the company’s stock in a transaction on Friday, December 12th. The stock was acquired at an average cost of $14.89 per share, for a total transaction of $58,071.00. Following the purchase, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at $1,763,824.73. This trade represents a 3.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 9,200 shares of company stock worth $136,642.

Shoulder Innovations Trading Down 4.2%

Shares of SI stock opened at $13.14 on Monday. 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 fifty day simple moving average of $14.36 and a two-hundred day simple moving average of $13.86. The firm has a market capitalization of $270.68 million and a PE ratio of -0.11. Shoulder Innovations, Inc. has a 52-week low of $10.92 and a 52-week high of $17.94.

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.