Shoulder Innovations, Inc. (NYSE:SI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.80.

Several research analysts recently issued reports on SI shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. Finally, BTIG Research lifted their target price on Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th.

Shoulder Innovations Stock Up 0.4%

Shares of NYSE:SI opened at $14.55 on Wednesday. The stock has a market cap of $300.43 million and a price-to-earnings ratio of -0.07. The company has a quick ratio of 9.55, a current ratio of 11.07 and a debt-to-equity ratio of 0.11. Shoulder Innovations has a 12-month low of $10.92 and a 12-month high of $17.94. The business’s 50 day moving average is $13.83 and its 200 day moving average is $13.79.

Shoulder Innovations (NYSE:SI) last announced its earnings results on Tuesday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.04. The company had revenue of $14.42 million for the quarter, compared to analysts’ expectations of $12.69 million. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%. On average, sell-side analysts forecast that Shoulder Innovations will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shoulder Innovations news, CEO Robert Joseph Ball purchased 2,200 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $15.18 per share, for a total transaction of $33,396.00. Following the completion of the acquisition, the chief executive officer owned 278,866 shares of the company’s stock, valued at $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 link. Also, CFO Jeffrey S. Points purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the chief financial officer directly owned 70,785 shares of the company’s stock, valued at $1,061,775. This trade represents a 2.91% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 5,200 shares of company stock worth $78,236 over the last quarter. 1.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Shoulder Innovations

A number of hedge funds have recently bought and sold shares of SI. Deerfield Management Company L.P. bought a new stake in Shoulder Innovations during the third quarter worth $6,056,000. Alyeska Investment Group L.P. bought a new stake in Shoulder Innovations during the third quarter worth $5,667,000. TimesSquare Capital Management LLC bought a new stake in Shoulder Innovations during the third quarter worth $4,799,000. Federated Hermes Inc. bought a new stake in Shoulder Innovations during the third quarter worth $2,510,000. Finally, Vanguard Group Inc. bought a new stake in Shoulder Innovations during the third quarter worth $1,836,000.

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.