Shoulder Innovations (NYSE:SI) Stock Price Down 1.5% - Here's What Happened

Key Points

• Shoulder Innovations Inc shares fell by 1.5% to trade at $14.06 on Tuesday, with a total volume of 305,834 shares, which is a 12% decline from its average trading volume.
• Director Casey M. Tansey significantly increased his stake by purchasing 40,000 shares at $15.00 each, totaling $600,000, representing a 521.78% increase in ownership.
• Insiders have acquired a total of 778,382 shares valued at $11.67 million in the last quarter, indicating a strong insider confidence in the company's future.

Shares of Shoulder Innovations Inc (NYSE:SI - ) fell 1.5% on Tuesday . The company traded as low as $13.78 and last traded at $14.06. 305,834 shares were traded during mid-day trading, a decline of 12% from the average session volume of 348,411 shares. The stock had previously closed at $14.27.

Shoulder Innovations Stock Down 1.5%

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.25 and a quick ratio of 0.18. The company has a market cap of $445.13 million, a PE ratio of -0.47 and a beta of 2.23.

Insider Activity at Shoulder Innovations

In other news, Director Casey M. Tansey bought 40,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $600,000.00. Following the completion of the acquisition, the director directly owned 47,666 shares in the company, valued at approximately $714,990. This represents a 521.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Healthcare Holding B.V. Gilde bought 100,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $1,500,000.00. Following the completion of the transaction, the insider owned 2,380,482 shares of the company's stock, valued at $35,707,230. This represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 778,382 shares of company stock valued at $11,675,730 in the last quarter. Insiders own 1.71% of the company's stock.

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.

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