Shoulder Innovations, Inc. (NYSE:SI) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shoulder Innovations, Inc. (NYSE:SI) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.50.

Several research firms have recently weighed in on SI. UBS Group lifted their target price on shares of Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 10th. Piper Sandler restated an “overweight” rating and set a $25.00 price target (up from $19.00) on shares of Shoulder Innovations in a research report on Friday, August 7th. BTIG Research lifted their price objective on shares of Shoulder Innovations from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 3rd.

Shoulder Innovations Stock Up 0.1%

SI stock opened at $19.03 on Wednesday. The company has a market capitalization of $396.20 million, a P/E ratio of -9.91 and a beta of -1.58. Shoulder Innovations has a 12 month low of $10.92 and a 12 month high of $24.59. The firm’s fifty day simple moving average is $20.26 and its 200-day simple moving average is $17.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 10.71 and a quick ratio of 8.92.

Shoulder Innovations (NYSE:SI) last posted its earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.03). Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. The business had revenue of $17.18 million for the quarter. As a group, equities research analysts forecast that Shoulder Innovations will post -1.9 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $22.77, for a total transaction of $2,272,719.24. Following the transaction, the insider owned 2,221,640 shares in the company, valued at $50,586,742.80. This trade represents a 4.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Matthew Fraser Ahearn sold 14,186 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $20.99, for a total transaction of $297,764.14. Following the completion of the sale, the chief operating officer directly owned 244,176 shares of the company’s stock, valued at approximately $5,125,254.24. The trade was a 5.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 227,243 shares of company stock valued at $5,092,575. 29.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shoulder Innovations

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Shoulder Innovations by 7,046.3% in the 1st quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock valued at $783,000 after purchasing an additional 53,129 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Shoulder Innovations during the 2nd quarter worth $896,000. Roubaix Capital LLC grew its holdings in shares of Shoulder Innovations by 61.9% during the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after buying an additional 98,305 shares in the last quarter. KCM Capital Inc purchased a new stake in shares of Shoulder Innovations during the first quarter worth $509,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Shoulder Innovations in the second quarter valued at about $35,000.

About Shoulder Innovations

Shoulder Innovations, Inc is a medical technology company focused on developing, manufacturing and commercializing orthopedic products for shoulder arthroplasty, or shoulder replacement surgery. Its products are designed for use by orthopedic surgeons treating patients with conditions such as degenerative joint disease, fractures and rotator cuff-related shoulder damage.

The company’s portfolio includes shoulder replacement systems and related components intended to support both anatomic and reverse shoulder procedures.