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

Shares of Shoulder Innovations, Inc. (NYSE:SI) have earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.60.

A number of analysts have recently issued reports on SI shares. Wall Street Zen upgraded Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 1st. Morgan Stanley boosted 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, December 2nd. BTIG Research restated a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a research report on Tuesday, September 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price on shares of Shoulder Innovations in a research report on Wednesday, November 12th.

Shoulder Innovations Stock Down 3.1%

Shares of NYSE:SI opened at $14.72 on Thursday. Shoulder Innovations has a one year low of $10.92 and a one year high of $17.94. The firm has a fifty day moving average price of $13.22.

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

Insider Transactions at Shoulder Innovations

In other news, CFO Jeffrey S. Points bought 1,600 shares of the business’s stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $15.67 per share, with a total value of $25,072.00. Following the completion of the purchase, the chief financial officer directly owned 52,445 shares in the company, valued at $821,813.15. This represents a 3.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert Joseph Ball purchased 6,000 shares of Shoulder Innovations stock in a transaction on Friday, September 12th. The shares were acquired at an average price of $15.49 per share, for a total transaction of $92,940.00. Following the completion of the transaction, the chief executive officer directly owned 111,259 shares of the company’s stock, valued at approximately $1,723,401.91. The trade was a 5.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 9,600 shares of company stock valued at $147,812 over the last quarter.

Hedge Funds Weigh In On Shoulder Innovations

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

About Shoulder Innovations

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.