Shoulder Innovations, Inc. (NYSE:SI) Sees Large Increase in Short Interest

Shoulder Innovations, Inc. (NYSE:SI) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 391,514 shares, a growth of 27.1% from the March 15th total of 307,956 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 148,383 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SI shares. BTIG Research raised their price target on Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Insider Buying and Selling at Shoulder Innovations

In other Shoulder Innovations news, CFO Jeffrey S. Points bought 2,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $15.00 per share, for a total transaction 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 approximately $1,061,775. This trade represents a 2.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Joseph Ball bought 2,200 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the acquisition, the chief executive officer directly owned 278,866 shares of the company’s stock, valued at approximately $4,233,185.88. The trade was a 0.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 5,200 shares of company stock worth $78,236 in the last 90 days. Company insiders own 1.71% of the company’s stock.

Institutional Investors Weigh In On Shoulder Innovations

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in Shoulder Innovations in the 3rd quarter valued at approximately $2,510,000. Board of Trustees of The Leland Stanford Junior University acquired a new stake in Shoulder Innovations in the 3rd quarter valued at approximately $170,000. Rhumbline Advisers acquired a new stake in Shoulder Innovations in the 3rd quarter valued at approximately $54,000. TimesSquare Capital Management LLC acquired a new stake in Shoulder Innovations in the 3rd quarter valued at approximately $4,799,000. Finally, Vanguard Group Inc. acquired a new stake in Shoulder Innovations in the 3rd quarter valued at approximately $1,836,000.

Shoulder Innovations Trading Down 7.0%

NYSE:SI traded down $1.06 during mid-day trading on Thursday, hitting $14.11. The company had a trading volume of 51,132 shares, compared to its average volume of 78,784. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $17.94. The business’s fifty day moving average is $13.95 and its two-hundred day moving average is $13.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 9.55 and a current ratio of 11.07. The firm has a market cap of $291.37 million and a P/E ratio of -0.07.

Shoulder Innovations (NYSE:SI) last released its earnings results on Tuesday, March 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.04. The firm had revenue of $14.42 million for the quarter, compared to analyst estimates of $12.69 million. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%. As a group, research analysts expect that Shoulder Innovations will post -0.56 earnings per share for the current year.

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.