BTIG Research Issues Positive Forecast for Shoulder Innovations (NYSE:SI) Stock Price

Shoulder Innovations (NYSE:SI) had its target price boosted by equities researchers at BTIG Research from $23.00 to $24.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 83.33% from the stock’s previous close.

Other analysts have also issued reports about the company. The Goldman Sachs Group reissued a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th. Morgan Stanley upped their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price on shares of Shoulder Innovations in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.80.

Shoulder Innovations Stock Down 2.2%

Shares of SI opened at $13.09 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.80 and a current ratio of 11.09. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $17.94. The stock has a market capitalization of $269.67 million and a price-to-earnings ratio of -0.11. The stock has a fifty day moving average of $13.71 and a 200-day moving average of $13.86.

Insiders Place Their Bets

In other Shoulder Innovations news, CEO Robert Joseph Ball acquired 3,900 shares of the stock in a transaction dated Friday, December 12th. The stock was purchased at an average cost of $14.89 per share, with a total value of $58,071.00. Following the transaction, the chief executive officer owned 118,457 shares in the company, valued at approximately $1,763,824.73. The trade was a 3.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders bought 9,200 shares of company stock worth $136,642.

Institutional Trading of Shoulder Innovations

Several hedge funds have recently modified their holdings of SI. Wells Fargo & Company MN boosted its stake in Shoulder Innovations by 66.3% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Shoulder Innovations during the 3rd quarter worth about $28,000. Rhumbline Advisers acquired a new stake in shares of Shoulder Innovations in the 3rd quarter valued at about $54,000. Renaissance Technologies LLC acquired a new position in Shoulder Innovations during the 4th 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.

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.