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

Shoulder Innovations, Inc. (NYSE:SI) was the recipient of a large growth in short interest in 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 company are short sold. Based on an average daily trading volume, of 148,383 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analyst Weigh In

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

Shoulder Innovations Price Performance

Shares of SI traded up $0.85 during trading hours on Friday, hitting $14.97. The stock had a trading volume of 74,572 shares, compared to its average volume of 112,696. The company’s fifty day moving average is $14.02 and its two-hundred day moving average is $13.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.07 and a quick ratio of 9.55. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $17.94. The stock has a market capitalization of $309.09 million and a price-to-earnings ratio of -0.07.

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

Insider Buying and Selling at Shoulder Innovations

In other Shoulder Innovations news, CFO Jeffrey S. Points purchased 2,000 shares of the stock in a transaction 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 acquisition, the chief financial officer directly owned 70,785 shares of the company’s stock, valued at $1,061,775. This represents a 2.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Joseph Ball purchased 2,200 shares of the stock in a transaction 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 acquisition, the chief executive officer directly owned 278,866 shares in the company, valued at approximately $4,233,185.88. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 5,200 shares of company stock worth $78,236 in the last three months. Insiders own 1.71% of the company’s stock.

Institutional Investors Weigh In On Shoulder Innovations

A number of hedge funds have recently added to or reduced their stakes in SI. Federated Hermes Inc. bought a new stake in Shoulder Innovations during the 3rd quarter worth about $2,510,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in Shoulder Innovations during the 3rd quarter worth about $170,000. Rhumbline Advisers bought a new stake in Shoulder Innovations during the 3rd quarter worth about $54,000. TimesSquare Capital Management LLC bought a new stake in Shoulder Innovations during the 3rd quarter worth about $4,799,000. Finally, Vanguard Group Inc. bought a new stake in Shoulder Innovations during the 3rd quarter worth about $1,836,000.

Shoulder Innovations Company 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.