Shoulder Innovations (NYSE:SI) CFO Buys $14,576.75 in Stock

Shoulder Innovations, Inc. (NYSE:SI) CFO Jeffrey Points purchased 995 shares of the stock in a transaction on Thursday, December 11th. The shares were acquired at an average cost of $14.65 per share, for a total transaction of $14,576.75. Following the transaction, the chief financial officer owned 53,440 shares of the company’s stock, valued at approximately $782,896. The trade was a 1.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shoulder Innovations Stock Down 7.3%

SI opened at $15.20 on Thursday. Shoulder Innovations, Inc. has a 12-month low of $10.92 and a 12-month high of $17.94. The company has a 50 day simple moving average of $13.56.

Shoulder Innovations (NYSE:SI) last posted its earnings results on Tuesday, November 11th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The company had revenue of $11.76 million during the quarter, compared to analyst estimates of $9.99 million. As a group, equities research analysts anticipate 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 have recently bought and sold shares of the business. Federated Hermes Inc. bought a new stake in Shoulder Innovations in the 3rd quarter valued at about $2,510,000. Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of Shoulder Innovations in the third quarter valued at approximately $170,000. Rhumbline Advisers bought a new stake in shares of Shoulder Innovations in the third quarter valued at approximately $54,000. TimesSquare Capital Management LLC bought a new stake in shares of Shoulder Innovations in the third quarter valued at approximately $4,799,000. Finally, Vanguard Group Inc. acquired a new stake in Shoulder Innovations during the third quarter worth approximately $1,836,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research raised shares of Shoulder Innovations to a “hold” rating in a research report on Tuesday, August 26th. Jefferies Financial Group began coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They issued a “buy” rating and a $19.00 price target on the stock. Piper Sandler restated an “overweight” rating and set a $18.00 price objective on shares of Shoulder Innovations in a research report on Wednesday, November 12th. BTIG Research restated a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a report on Tuesday, September 9th. Finally, Morgan Stanley increased their target price on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.