Shoulder Innovations (NYSE:SI) Upgraded to "Hold" at Wall Street Zen

Key Points

• Shoulder Innovations (NYSE:SI) has been upgraded to a "hold" rating by analysts at Wall Street Zen, reflecting a cautious outlook on the stock.
• The company's stock price increased by 2.4%, opening at $14.09, with a market capitalization of $214.59 million.
• Insider trading activity was notable, as Director Geoffrey B. Pardo purchased 100,000 shares and another major shareholder bought 266,666 shares, indicating confidence in the company's future.

Wall Street Zen upgraded shares of Shoulder Innovations (NYSE:SI - Free Report) to a hold rating in a research note issued to investors on Saturday morning.

Shoulder Innovations Price Performance

SI traded up $0.33 during trading on Friday, hitting $14.09. 83,645 shares of the stock traded hands, compared to its average volume of 363,507. The company has a market cap of $214.59 million and a P/E ratio of -0.47. Shoulder Innovations has a twelve month low of $11.75 and a twelve month high of $17.94.

Insider Activity

In other Shoulder Innovations news, Director Michael A. Carusi acquired 266,666 shares of the company's stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $3,999,990.00. Following the completion of the purchase, the director owned 1,885,136 shares in the company, valued at approximately $28,277,040. This trade represents a 16.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Casey M. Tansey acquired 40,000 shares of the stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $15.00 per share, with a total value of $600,000.00. Following the completion of the purchase, the director directly owned 47,666 shares of the company's stock, valued at approximately $714,990. This trade represents a 521.78% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 778,382 shares of company stock worth $11,675,730.

Shoulder Innovations Company Profile

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.