Shoulder Innovations, Inc. (NYSE:SI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shoulder Innovations, Inc. (NYSE:SI) has received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.60.

Several research analysts have commented on the company. Morgan Stanley raised their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Weiss Ratings restated a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective on shares of Shoulder Innovations in a research note on Wednesday, November 12th.

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball bought 3,900 shares of the stock in a transaction dated Friday, December 12th. The stock was bought at an average cost of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the purchase, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. The trade was a 3.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 9,200 shares of company stock worth $136,642.

Institutional Investors Weigh In On Shoulder Innovations

Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in shares of Shoulder Innovations by 66.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after purchasing an additional 2,094 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Shoulder Innovations in the third quarter worth $28,000. Rhumbline Advisers acquired a new stake in Shoulder Innovations in the third quarter valued at $54,000. Renaissance Technologies LLC bought a new position in Shoulder Innovations during the 4th quarter valued at $176,000. Finally, Board of Trustees of The Leland Stanford Junior University acquired a new position in Shoulder Innovations during the 3rd quarter worth $170,000.

Shoulder Innovations Stock Performance

Shares of SI stock opened at $13.14 on Tuesday. The company has a current ratio of 11.09, a quick ratio of 9.80 and a debt-to-equity ratio of 0.10. The company has a market cap of $270.68 million and a PE ratio of -0.11. The company’s fifty day simple moving average is $14.33 and its 200-day simple moving average is $13.85. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $17.94.

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.