Readystate Asset Management LP Invests $511,000 in Shoulder Innovations, Inc. $SI

Readystate Asset Management LP bought a new position in shares of Shoulder Innovations, Inc. (NYSE:SI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 40,745 shares of the company’s stock, valued at approximately $511,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SI. TimesSquare Capital Management LLC purchased a new position in shares of Shoulder Innovations during the third quarter valued at about $4,799,000. Federated Hermes Inc. purchased a new stake in shares of Shoulder Innovations in the third quarter worth about $2,510,000. Vanguard Group Inc. bought a new position in Shoulder Innovations during the third quarter valued at approximately $1,836,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in Shoulder Innovations during the 3rd quarter valued at approximately $170,000. Finally, Rhumbline Advisers bought a new stake in Shoulder Innovations in the 3rd quarter worth approximately $54,000.

Shoulder Innovations Stock Performance

NYSE SI opened at $13.07 on Thursday. The business’s 50 day moving average price is $14.25 and its 200-day moving average price is $13.83. Shoulder Innovations, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $17.94. The company has a market cap of $269.22 million and a P/E ratio of -0.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.80 and a current ratio of 11.09.

Insiders Place Their Bets

In other news, CEO Robert Joseph Ball bought 3,900 shares of Shoulder Innovations stock in a transaction dated Friday, December 12th. The shares were acquired at an average price of $14.89 per share, with a total value of $58,071.00. Following the completion of the purchase, the chief executive officer owned 118,457 shares in the company, valued at $1,763,824.73. The trade was a 3.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 9,200 shares of company stock worth $136,642 in the last quarter. Insiders own 1.71% of the company’s stock.

Wall Street Analyst Weigh In

SI has been the subject of a number of research reports. Morgan Stanley increased 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. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. The Goldman Sachs Group reissued a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $18.00 target price on shares of Shoulder Innovations in a report on Wednesday, November 12th. 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.60.

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.