Brokerages Set Shoulder Innovations, Inc. (NYSE:SI) Price Target at $20.80

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.80.

A number of analysts have issued reports on SI shares. The Goldman Sachs Group reissued a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Weiss Ratings restated a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. Morgan Stanley lifted their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Finally, BTIG Research boosted their price objective on Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 11th.

Shoulder Innovations Price Performance

Shares of SI opened at $14.37 on Friday. Shoulder Innovations has a 1-year low of $10.92 and a 1-year high of $17.94. The stock has a market cap of $296.74 million and a PE ratio of -0.07. The firm has a 50-day simple moving average of $13.77 and a two-hundred day simple moving average of $13.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.07 and a quick ratio of 9.55.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.04. The firm had revenue of $14.42 million for the quarter, compared to analyst estimates of $12.69 million. Shoulder Innovations had a negative net margin of 85.29% and a negative return on equity of 37.68%. As a group, analysts forecast that Shoulder Innovations will post -0.56 EPS for the current year.

Insider Activity

In other Shoulder Innovations news, CEO Robert Joseph Ball acquired 2,200 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $15.18 per share, with a total value of $33,396.00. Following the completion of the purchase, the chief executive officer owned 278,866 shares in the company, valued at $4,233,185.88. This trade represents a 0.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey S. Points acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $15.00 per share, with a total value of $30,000.00. Following the acquisition, the chief financial officer directly owned 70,785 shares of the company’s stock, valued at approximately $1,061,775. This represents a 2.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 5,200 shares of company stock valued at $78,236. 1.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Shoulder Innovations

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Shoulder Innovations during the third quarter worth $28,000. Rhumbline Advisers purchased a new position in Shoulder Innovations in the third quarter valued at $54,000. Wells Fargo & Company MN grew its stake in Shoulder Innovations by 66.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after purchasing an additional 2,094 shares in the last quarter. Board of Trustees of The Leland Stanford Junior University purchased a new stake in Shoulder Innovations during the 3rd quarter worth about $170,000. Finally, Renaissance Technologies LLC purchased a new stake in Shoulder Innovations during the 4th quarter worth about $176,000.

About Shoulder Innovations

Shoulder Innovations (NYSE:SI) is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.