Insider Buying: Shoulder Innov (NYSE:SI) Director Buys 266,666 Shares of Stock

Key Points

• Director Michael A. Carusi of Shoulder Innovations Inc acquired 266,666 shares at $15.00 per share, totaling nearly $4 million and increasing his position by 16.48% to 1,885,136 shares.
• The company's stock was down 0.6% during trading, with shares priced at $14.18, reflecting a market capitalization of approximately $448.92 million.
• Shoulder Innovations specializes in medical technology focused on transforming shoulder surgical care with advanced implant systems.

Shoulder Innov (NYSE:SI - Get Free Report) Director Michael A. Carusi acquired 266,666 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $3,999,990.00. Following the purchase, the director owned 1,885,136 shares of the company's stock, valued at $28,277,040. This represents a 16.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shoulder Innov Stock Down 7.7%

SI traded down $1.00 during midday trading on Thursday, hitting $12.06. 120,375 shares of the company traded hands, compared to its average volume of 277,624. Shoulder Innov has a 52-week low of $12.00 and a 52-week high of $17.94.

About Shoulder Innov

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.