Insider Buying: Shoulder Innovations (NYSE:SI) CEO Purchases 2,000 Shares of Stock

Key Points

• Shoulder Innovations CEO Robert Joseph Ball bought 2,000 shares of company stock at an average price of $14.90, totaling $29,800, and now owns 105,259 shares valued at approximately $1,568,359.10.
• In a subsequent transaction, Ball purchased an additional 6,000 shares at an average price of $15.49 each, amounting to $92,940.
• Analysts have rated Shoulder Innovations with a consensus of "Moderate Buy" and an average target price of $19.60, with multiple firms assigning buy ratings.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) CEO Robert Joseph Ball bought 2,000 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of $14.90 per share, for a total transaction of $29,800.00. Following the acquisition, the chief executive officer directly owned 105,259 shares of the company's stock, valued at approximately $1,568,359.10. This represents a 1.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Robert Joseph Ball also recently made the following trade(s):

• On Friday, September 12th, Robert Joseph Ball bought 6,000 shares of Shoulder Innovations stock. The stock was bought at an average price of $15.49 per share, for a total transaction of $92,940.00.

Shoulder Innovations Stock Up 0.8%

Shares of SI traded up $0.12 on Friday, reaching $14.76. 845,144 shares of the company's stock traded hands, compared to its average volume of 157,488. Shoulder Innovations, Inc. has a 52-week low of $11.75 and a 52-week high of $17.94.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen raised Shoulder Innovations from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. BTIG Research reissued a "buy" rating and issued a $23.00 target price on shares of Shoulder Innovations in a research report on Tuesday, September 9th. The Goldman Sachs Group began coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued a "buy" rating and a $20.00 target price for the company. Morgan Stanley began coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued an "overweight" rating and a $18.00 target price for the company. Finally, Piper Sandler began coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued an "overweight" rating and a $18.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.60.

About Shoulder Innovations

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.