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

Shoulder Innovations, Inc. (NYSE:SI) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $23.50.

SI has been the subject of a number of analyst reports. Weiss Ratings upgraded Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a research note on Friday. BTIG Research increased their price objective on Shoulder Innovations from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Finally, UBS Group raised their target price on shares of Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday.

Shoulder Innovations Trading Up 1.9%

Shoulder Innovations stock opened at $20.99 on Tuesday. The company has a market cap of $437.01 million and a price-to-earnings ratio of -10.93. The firm has a 50-day moving average of $20.04 and a 200-day moving average of $16.14. 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 has a one year low of $10.92 and a one year high of $24.59.

Shoulder Innovations (NYSE:SI) last released its earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%.The business had revenue of $16.71 million for the quarter. On average, equities analysts expect that Shoulder Innovations will post -1.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Matthew Fraser Ahearn sold 4,144 shares of Shoulder Innovations stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $18.84, for a total value of $78,072.96. Following the completion of the transaction, the chief operating officer owned 269,176 shares of the company’s stock, valued at $5,071,275.84. This trade represents a 1.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Healthcare Holding B.V. Gilde sold 2,095 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $22.60, for a total transaction of $47,347.00. Following the completion of the sale, the insider directly owned 2,212,207 shares in the company, valued at approximately $49,995,878.20. The trade was a 0.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 188,275 shares of company stock valued at $4,219,793. Corporate insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SI. Wells Fargo & Company MN grew its holdings in shares of 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Shoulder Innovations in the third quarter valued at about $28,000. Rhumbline Advisers bought a new stake in Shoulder Innovations during the third quarter worth about $54,000. Bank of America Corp DE grew its stake in Shoulder Innovations by 43.7% during the first quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after buying an additional 8,205 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Shoulder Innovations during the fourth quarter worth about $176,000.

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.