Shoulder Innovations (NYSE:SI) Trading Up 0.2% – Still a Buy?

Shoulder Innovations, Inc. (NYSE:SI) rose 0.2% on Wednesday . The stock traded as high as $15.75 and last traded at $15.25. Approximately 37,308 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 79,599 shares. The stock had previously closed at $15.22.

Analyst Ratings Changes

SI has been the subject of several research reports. Wall Street Zen upgraded Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. The Goldman Sachs Group initiated coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set a “buy” rating and a $20.00 target price for the company. Morgan Stanley raised their price target on shares of Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday. BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a research note on Tuesday, September 9th. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Shoulder Innovations Price Performance

The business has a 50 day simple moving average of $13.06.

Shoulder Innovations (NYSE:SI) last released its quarterly earnings results on Tuesday, November 11th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The business had revenue of $11.76 million during the quarter, compared to the consensus estimate of $9.99 million. On average, research analysts anticipate that Shoulder Innovations, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, CFO Jeffrey S. Points purchased 1,600 shares of Shoulder Innovations stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $15.67 per share, with a total value of $25,072.00. Following the completion of the transaction, the chief financial officer owned 52,445 shares of the company’s stock, valued at $821,813.15. This trade represents a 3.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Joseph Ball acquired 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average price of $15.49 per share, with a total value of $92,940.00. Following the acquisition, the chief executive officer directly owned 111,259 shares of the company’s stock, valued at approximately $1,723,401.91. This represents a 5.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 9,600 shares of company stock valued at $147,812 over the last 90 days. 1.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shoulder Innovations

Several institutional investors have recently modified their holdings of the business. Deerfield Management Company L.P. purchased a new stake in shares of Shoulder Innovations during the third quarter worth $6,056,000. Alyeska Investment Group L.P. acquired a new position in Shoulder Innovations during the 3rd quarter worth $5,667,000. TimesSquare Capital Management LLC purchased a new stake in Shoulder Innovations during the 3rd quarter worth about $4,799,000. Federated Hermes Inc. acquired a new stake in Shoulder Innovations in the 3rd quarter valued at about $2,510,000. Finally, Vanguard Group Inc. purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $1,836,000.

Shoulder Innovations Company Profile

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.