Shoulder Innovations, Inc. (NYSE:SI) Receives $20.80 Average PT from Brokerages

Shoulder Innovations, Inc. (NYSE:SI) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat reports. One research 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 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

Several brokerages recently issued reports on SI. Piper Sandler restated an “overweight” rating and issued a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a report on Friday. BTIG Research raised their target price on shares of Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th.

Insider Activity at Shoulder Innovations

In related news, CFO Jeffrey S. Points bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were bought 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Joseph Ball bought 2,200 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the acquisition, the chief executive officer directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 5,200 shares of company stock worth $78,236 in the last 90 days. 1.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in Shoulder Innovations by 66.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after acquiring an additional 2,094 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Shoulder Innovations in the third quarter worth approximately $28,000. Rhumbline Advisers bought a new position in Shoulder Innovations in the third quarter worth approximately $54,000. Renaissance Technologies LLC bought a new position in Shoulder Innovations in the fourth quarter worth approximately $176,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new position in Shoulder Innovations in the third quarter worth approximately $170,000.

Shoulder Innovations Trading Up 3.9%

Shares of NYSE SI opened at $13.27 on Friday. The firm’s 50 day moving average price is $14.03 and its 200-day moving average price is $13.96. The company has a market cap of $274.98 million and a PE ratio of -0.06. Shoulder Innovations has a 52-week low of $10.92 and a 52-week high of $17.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 9.55 and a current ratio of 11.07.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.04. Shoulder Innovations had a negative net margin of 85.29% and a negative return on equity of 37.68%. The company had revenue of $14.42 million for the quarter, compared to the consensus estimate of $12.69 million. On average, equities research analysts expect that Shoulder Innovations will post -1.71 EPS for the current fiscal 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.