Shoulder Innovations, Inc. (NYSE:SI) Receives $20.60 Consensus Target Price from Brokerages

Shares of Shoulder Innovations, Inc. (NYSE:SI) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $20.60.

A number of equities analysts have commented on SI shares. The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th. Morgan Stanley boosted their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued 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.

Shoulder Innovations Trading Down 0.4%

Shoulder Innovations stock opened at $13.28 on Tuesday. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $17.94. The firm’s 50-day moving average is $14.19 and its 200-day moving average is $13.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.80 and a current ratio of 11.09. The company has a market cap of $273.63 million and a P/E ratio of -0.11.

Insider Buying and Selling

In other news, CEO Robert Joseph Ball purchased 3,900 shares of the company’s stock in a transaction on Friday, December 12th. The shares were bought at an average price of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the purchase, the chief executive officer owned 118,457 shares of the company’s stock, valued at $1,763,824.73. This trade represents a 3.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have bought 9,200 shares of company stock valued at $136,642. 1.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Shoulder Innovations

Hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in shares of Shoulder Innovations during the third quarter valued at $2,510,000. TimesSquare Capital Management LLC bought a new position in Shoulder Innovations in the 3rd quarter valued at about $4,799,000. Readystate Asset Management LP acquired a new position in Shoulder Innovations during the 3rd quarter valued at about $511,000. Jane Street Group LLC bought a new stake in shares of Shoulder Innovations during the 4th quarter worth about $234,000. Finally, Bank of America Corp DE bought a new position in shares of Shoulder Innovations in the third quarter valued at approximately $322,000.

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.