Shoulder Innovations (NYSE:SI) Rating Increased 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.

Shoulder Innovations Trading Down 3.0%

NYSE SI traded down $0.37 on Friday, hitting $12.07. The stock had a trading volume of 160,565 shares, compared to its average volume of 322,433. Shoulder Innovations has a one year low of $11.75 and a one year high of $17.94. The stock has a market cap of $183.83 million and a price-to-earnings ratio of -0.40.

Insider Transactions at Shoulder Innovations

In other news, Director Michael A. Carusi bought 266,666 shares of the firm's stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $3,999,990.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Lsv Associates Ii, Llc bought 266,666 shares of the firm's stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $3,999,990.00. Following the transaction, the insider owned 1,885,136 shares in the company, valued at $28,277,040. The trade was a 16.48% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 778,382 shares of company stock worth $11,675,730 in the last quarter. 1.71% of the stock is currently owned by corporate insiders.

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.