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

Shoulder Innovations’ (NYSE:SI) lock-up period will expire on Tuesday, January 27th. Shoulder Innovations had issued 5,000,000 shares in its IPO 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 the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

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

Shoulder Innovations Stock Performance

Shares of Shoulder Innovations stock opened at $13.92 on Tuesday. The stock has a 50 day simple moving average of $14.75. 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 market capitalization of $286.75 million and a price-to-earnings ratio of -0.12. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $17.94.

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

Insider Buying and Selling at Shoulder Innovations

In related news, CEO Robert Joseph Ball purchased 3,900 shares of Shoulder Innovations stock in a transaction dated Friday, December 12th. The shares were acquired at an average cost of $14.89 per share, with a total value of $58,071.00. Following the purchase, the chief executive officer owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. The trade was a 3.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 9,200 shares of company stock worth $136,642 in the last ninety days.

Institutional Investors Weigh In On Shoulder Innovations

Hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. purchased a new stake in shares of Shoulder Innovations during the third quarter worth $2,510,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of Shoulder Innovations during the third quarter worth about $170,000. Rhumbline Advisers acquired a new position in Shoulder Innovations during the third quarter worth approximately $54,000. TimesSquare Capital Management LLC purchased a new stake in Shoulder Innovations in the 3rd quarter valued at $4,799,000. Finally, Vanguard Group Inc. purchased a new position in shares of Shoulder Innovations during the third quarter worth 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.