TimesSquare Capital Management LLC Has $4.15 Million Stock Holdings in Shoulder Innovations, Inc. $SI

TimesSquare Capital Management LLC lessened its holdings in Shoulder Innovations, Inc. (NYSE:SI) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,850 shares of the company’s stock after selling 92,517 shares during the period. TimesSquare Capital Management LLC’s holdings in Shoulder Innovations were worth $4,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CM Management LLC acquired a new stake in shares of Shoulder Innovations in the fourth quarter worth $358,000. Alyeska Investment Group L.P. acquired a new stake in shares of Shoulder Innovations in the third quarter worth $5,667,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Shoulder Innovations in the third quarter worth $28,000. Citadel Advisors LLC acquired a new stake in shares of Shoulder Innovations in the third quarter worth $628,000. Finally, Bank of America Corp DE acquired a new stake in shares of Shoulder Innovations in the third quarter worth $322,000.

Shoulder Innovations Price Performance

Shares of NYSE:SI opened at $14.94 on Wednesday. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11. Shoulder Innovations, Inc. has a 1 year low of $10.92 and a 1 year high of $17.94. The business has a fifty day simple moving average of $14.20 and a 200 day simple moving average of $14.07. The firm has a market cap of $309.92 million and a price-to-earnings ratio of -0.09.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. Shoulder Innovations had a negative return on equity of 35.11% and a negative net margin of 81.78%.The business had revenue of $16.71 million during the quarter. As a group, sell-side analysts predict that Shoulder Innovations, Inc. will post -1.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Shoulder Innovations

In other news, CEO Robert Joseph Ball acquired 2,200 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $15.18 per share, for a total transaction of $33,396.00. Following the completion of the acquisition, the chief executive officer owned 278,866 shares in the company, valued at approximately $4,233,185.88. The trade was a 0.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey S. Points acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $15.00 per share, with a total value of $30,000.00. Following the completion of the acquisition, the chief financial officer owned 70,785 shares of the company’s stock, valued at $1,061,775. This represents a 2.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 5,200 shares of company stock valued at $78,236. 29.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SI. BTIG Research raised their target price on Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Shoulder Innovations 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.