Shoulder Innovations, Inc. (NYSE:SI) Short Interest Update

Shoulder Innovations, Inc. (NYSE:SI) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 263,481 shares, a decline of 13.0% from the January 29th total of 302,696 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 87,453 shares, the short-interest ratio is presently 3.0 days. Based on an average daily trading volume, of 87,453 shares, the short-interest ratio is presently 3.0 days. Currently, 1.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SI shares. Morgan Stanley boosted their target price on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target on shares of Shoulder Innovations in a research report on Wednesday, November 12th. The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Shoulder Innovations has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Insider Activity

In other Shoulder Innovations news, CEO Robert Joseph Ball acquired 3,900 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average cost of $14.89 per share, with a total value of $58,071.00. Following the acquisition, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at $1,763,824.73. This represents a 3.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 9,200 shares of company stock worth $136,642 in the last three months.

Hedge Funds Weigh In On Shoulder Innovations

Several hedge funds have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. acquired a new position in shares of Shoulder Innovations during the 3rd quarter worth about $6,056,000. Alyeska Investment Group L.P. bought a new position in Shoulder Innovations during the 3rd quarter worth approximately $5,667,000. TimesSquare Capital Management LLC acquired a new position in Shoulder Innovations during the third quarter valued at approximately $4,799,000. Federated Hermes Inc. acquired a new stake in Shoulder Innovations in the third quarter worth $2,510,000. Finally, Vanguard Group Inc. acquired a new stake in Shoulder Innovations in the third quarter worth $1,836,000.

Shoulder Innovations Trading Down 0.2%

NYSE SI traded down $0.02 during trading hours on Wednesday, hitting $13.04. The company’s stock had a trading volume of 5,419 shares, compared to its average volume of 51,003. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $17.94. The firm has a market capitalization of $268.62 million and a P/E ratio of -0.11. The company has a quick ratio of 9.80, a current ratio of 11.09 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $13.92 and a 200 day moving average of $13.85.

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.