Shoulder Innovations, Inc. (NYSE:SI) Given Average Recommendation of “Moderate Buy” by Analysts

Shoulder Innovations, Inc. (NYSE:SI) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $21.00.

Several analysts have commented on the stock. BTIG Research lifted their price objective on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th.

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball acquired 2,200 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $15.18 per share, for a total transaction of $33,396.00. Following the purchase, the chief executive officer owned 278,866 shares in the company, valued at approximately $4,233,185.88. The trade was a 0.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey S. Points acquired 2,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $15.00 per share, with a total value of $30,000.00. Following the completion of the purchase, the chief financial officer owned 70,785 shares in the company, valued at approximately $1,061,775. This trade represents a 2.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 5,200 shares of company stock valued at $78,236. Company insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Shoulder Innovations

Several large investors have recently made changes to their positions in SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Shoulder Innovations during the third quarter worth $28,000. Rhumbline Advisers purchased a new stake in Shoulder Innovations during the third quarter worth $54,000. Wells Fargo & Company MN boosted its holdings in Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after buying 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 third quarter worth $170,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Shoulder Innovations during the 4th quarter worth about $176,000.

Shoulder Innovations Trading Down 0.4%

Shoulder Innovations stock opened at $15.01 on Thursday. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $17.94. The company has a market capitalization of $311.22 million and a price-to-earnings ratio of -0.09. The stock has a 50-day moving average price of $14.27 and a 200 day moving average price of $14.22.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. Shoulder Innovations had a negative net margin of 81.78% and a negative return on equity of 35.11%. The company had revenue of $16.71 million for the quarter. Sell-side analysts anticipate that Shoulder Innovations will post -1.67 EPS for the current year.

Shoulder Innovations Company Profile

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.