CenterBook Partners LP Buys New Position in Shoulder Innovations, Inc. $SI

CenterBook Partners LP bought a new stake in Shoulder Innovations, Inc. (NYSE:SI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,471 shares of the company’s stock, valued at approximately $784,000. CenterBook Partners LP owned about 0.20% of Shoulder Innovations as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SI. China Universal Asset Management Co. Ltd. increased its position in Shoulder Innovations by 28.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,400 shares of the company’s stock worth $120,000 after acquiring an additional 1,400 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Shoulder Innovations in the 2nd quarter worth $35,000. Squarepoint Ops LLC acquired a new stake in Shoulder Innovations in the 2nd quarter worth $896,000. Compass Financial Management LLC acquired a new stake in Shoulder Innovations in the 2nd quarter worth $30,000. Finally, Bank of America Corp DE increased its holdings in shares of Shoulder Innovations by 43.7% during the 1st quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after purchasing an additional 8,205 shares during the period.

Shoulder Innovations Trading Up 2.0%

NYSE SI opened at $21.89 on Wednesday. Shoulder Innovations, Inc. has a twelve month low of $10.92 and a twelve month high of $24.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 10.68 and a quick ratio of 8.69. The company’s 50-day simple moving average is $19.03 and its 200 day simple moving average is $17.24.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.15. Shoulder Innovations had a negative net margin of 51.72% and a negative return on equity of 25.37%. The firm had revenue of $16.19 million during the quarter. As a group, analysts predict that Shoulder Innovations, Inc. will post -1.70 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shoulder Innovations news, major shareholder Healthcare Holding B.V. Gilde sold 20,516 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $22.61, for a total value of $463,866.76. Following the sale, the insider directly owned 2,187,791 shares in the company, valued at $49,465,954.51. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Matthew Fraser Ahearn sold 14,186 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $20.99, for a total value of $297,764.14. Following the transaction, the chief operating officer owned 244,176 shares of the company’s stock, valued at $5,125,254.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,968 shares of company stock worth $1,247,045 in the last 90 days. 29.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SI shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shoulder Innovations in a research report on Friday, October 30th. BTIG Research lifted their target price on Shoulder Innovations from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Piper Sandler restated an “overweight” rating and set a $25.00 price target (up from $19.00) on shares of Shoulder Innovations in a research note on Friday, August 7th. Finally, UBS Group upped their price target on Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Shoulder Innovations Company Profile

Shoulder Innovations, Inc. is a medical device company focused on developing and commercializing products for shoulder arthroplasty, or shoulder replacement surgery. The company aims to address challenges associated with conventional shoulder-replacement procedures through implant designs intended to support surgical efficiency, fixation, and patient outcomes. Its product portfolio includes shoulder replacement systems and related components, including glenoid implants and technologies designed for anatomic and reverse shoulder arthroplasty procedures.