Shoulder Innovations, Inc.’s Lock-Up Period Will End on January 27th (NYSE:SI)

Shoulder Innovations’ (NYSE:SI) lock-up period will end on Tuesday, January 27th. Shoulder Innovations had issued 5,000,000 shares in its public offering on July 31st. The total size of the offering was $75,000,000 based on an initial share price of $15.00. After the end of Shoulder Innovations’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

SI has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Piper Sandler restated an “overweight” rating and set a $18.00 price objective on shares of Shoulder Innovations in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Shoulder Innovations from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Shoulder Innovations Trading Down 1.2%

Shares of SI stock opened at $14.89 on Friday. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $17.94. 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 price of $14.80. The stock has a market cap of $306.82 million and a PE ratio of -0.13.

Shoulder Innovations (NYSE:SI) last released its quarterly earnings data on Tuesday, November 11th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The company had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $9.99 million. Research analysts predict that Shoulder Innovations will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball acquired 3,900 shares of Shoulder Innovations stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average price of $14.89 per share, with a total value of $58,071.00. Following the completion of the purchase, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. This represents a 3.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 9,200 shares of company stock valued at $136,642. 1.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shoulder Innovations

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Shoulder Innovations in the third quarter valued at about $28,000. Rhumbline Advisers bought a new stake in shares of Shoulder Innovations in the 3rd quarter valued at about $54,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of Shoulder Innovations in the 3rd quarter worth approximately $170,000. Bank of America Corp DE bought a new position in shares of Shoulder Innovations during the 3rd quarter worth approximately $322,000. Finally, Monashee Investment Management LLC purchased a new stake in Shoulder Innovations during the third quarter valued at approximately $502,000.

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.