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

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $25.50.

Several research analysts have recently issued reports on SI shares. BTIG Research raised their price target on Shoulder Innovations from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating and issued a $25.00 target price (up from $19.00) on shares of Shoulder Innovations in a research note on Friday, August 7th. Finally, UBS Group boosted their target price on Shoulder Innovations from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, August 10th.

Shoulder Innovations Trading Down 3.7%

Shares of NYSE SI opened at $18.41 on Friday. The company’s 50 day simple moving average is $21.20 and its 200 day simple moving average is $17.31. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $24.59. The firm has a market capitalization of $383.21 million, a P/E ratio of -9.59 and a beta of -1.77. 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 (NYSE:SI) last released its earnings results on Thursday, August 6th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.03). The business had revenue of $17.18 million for the quarter. Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%. On average, analysts predict that Shoulder Innovations will post -1.9 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of Shoulder Innovations stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.77, for a total transaction of $2,272,719.24. Following the transaction, the insider directly owned 2,221,640 shares of the company’s stock, valued at $50,586,742.80. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew Fraser Ahearn sold 14,186 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total transaction of $297,764.14. Following the completion of the transaction, the chief operating officer directly owned 244,176 shares of the company’s stock, valued at $5,125,254.24. This trade represents a 5.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 221,212 shares of company stock valued at $4,982,919. Corporate insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers bought a new stake in shares of Shoulder Innovations in the third quarter worth about $54,000. Vanguard Group Inc. bought a new position in shares of Shoulder Innovations during the 3rd quarter valued at about $1,836,000. Deerfield Management Company L.P. acquired a new position in shares of Shoulder Innovations in the 3rd quarter valued at approximately $6,056,000. Bank of America Corp DE acquired a new position in shares of Shoulder Innovations in the 3rd quarter valued at approximately $322,000. Finally, Citadel Advisors LLC bought a new stake in Shoulder Innovations during the 3rd quarter worth approximately $628,000.

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.