Shoulder Innovations, Inc. (NYSE:SI) Short Interest Up 21.6% in April

Shoulder Innovations, Inc. (NYSE:SI) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 475,948 shares, a growth of 21.6% from the March 31st total of 391,514 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average daily volume of 86,284 shares, the days-to-cover ratio is currently 5.5 days.

Shoulder Innovations Stock Performance

Shares of SI stock opened at $13.52 on Friday. The stock has a market cap of $280.17 million and a PE ratio of -0.06. The business has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $13.93. The company has a quick ratio of 9.55, a current ratio of 11.07 and a debt-to-equity ratio of 0.11. Shoulder Innovations has a 52-week low of $10.92 and a 52-week high of $17.94.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.04. The business had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $12.69 million. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%. On average, equities analysts expect that Shoulder Innovations will post -1.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on SI shares. BTIG Research lifted their price target on Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Shoulder Innovations presently has an average rating of “Moderate Buy” and a consensus target price of $20.80.

Insiders Place Their Bets

In other news, CFO Jeffrey S. Points purchased 2,000 shares of the stock in a transaction on Friday, March 13th. The stock was bought at an average price of $15.00 per share, with a total value of $30,000.00. Following the transaction, the chief financial officer owned 70,785 shares in the company, valued at $1,061,775. The trade was a 2.91% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Joseph Ball purchased 2,200 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $15.18 per share, with a total value of $33,396.00. Following the transaction, the chief executive officer owned 278,866 shares in the company, valued at $4,233,185.88. This trade represents a 0.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 5,200 shares of company stock valued at $78,236 in the last three months. Insiders own 1.71% of the company’s stock.

Hedge Funds Weigh In On Shoulder Innovations

Several institutional investors and hedge funds have recently modified their holdings of SI. Deerfield Management Company L.P. acquired a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $6,056,000. Alyeska Investment Group L.P. purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $5,667,000. TimesSquare Capital Management LLC purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $4,799,000. Federated Hermes Inc. purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $2,510,000. Finally, Vanguard Group Inc. purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $1,836,000.

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.