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

Shares of Shoulder Innovations, Inc. (NYSE:SI) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.80.

A number of brokerages have issued reports on SI. The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. BTIG Research upped their price target on Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th.

Shoulder Innovations Stock Performance

Shares of Shoulder Innovations stock opened at $13.52 on Friday. The firm has a fifty day moving average of $14.06 and a two-hundred day moving average of $13.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 9.55 and a current ratio of 11.07. The stock has a market capitalization of $280.17 million and a price-to-earnings ratio of -0.06. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $17.94.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings results on Tuesday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.04. The business had revenue of $14.42 million for the quarter, compared to analyst estimates of $12.69 million. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%. As a group, equities research analysts predict that Shoulder Innovations will post -1.71 EPS for the current year.

Insider Buying and Selling

In other news, CEO Robert Joseph Ball purchased 2,200 shares of Shoulder Innovations stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $15.18 per share, with a total value of $33,396.00. Following the completion of the transaction, the chief executive officer directly owned 278,866 shares in the company, valued at $4,233,185.88. This trade represents a 0.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey S. Points acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $15.00 per share, with a total value of $30,000.00. Following the transaction, the chief financial officer owned 70,785 shares in the company, valued at $1,061,775. This represents a 2.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 5,200 shares of company stock valued at $78,236. Corporate insiders own 1.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Shoulder Innovations in the third quarter worth about $28,000. Rhumbline Advisers bought a new position in shares of Shoulder Innovations during the 3rd quarter valued at about $54,000. Wells Fargo & Company MN lifted 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 valued at $75,000 after purchasing an additional 2,094 shares in the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Shoulder Innovations in the 3rd quarter valued at approximately $170,000. Finally, Renaissance Technologies LLC bought a new stake in Shoulder Innovations during the 4th quarter worth approximately $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.