Shoulder Innovations, Inc. (NYSE:SI) Receives $20.80 Consensus Target Price from Brokerages

Shoulder Innovations, Inc. (NYSE:SI) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.80.

A number of research firms recently weighed in on SI. BTIG Research increased their price objective on shares of Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Morgan Stanley boosted their target price on shares of Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th.

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, CFO Jeffrey S. Points purchased 2,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $15.00 per share, with a total value of $30,000.00. Following the completion of the purchase, the chief financial officer owned 70,785 shares in the company, valued at $1,061,775. This trade represents a 2.91% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Joseph Ball purchased 2,200 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $15.18 per share, for a total transaction of $33,396.00. Following the completion of the acquisition, the chief executive officer directly owned 278,866 shares of the company’s stock, valued at approximately $4,233,185.88. This trade represents a 0.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 5,200 shares of company stock worth $78,236. 1.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Shoulder Innovations

Several institutional investors have recently bought and sold shares of SI. Sectoral Asset Management Inc. increased its stake in Shoulder Innovations by 14.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock valued at $7,042,000 after buying an additional 62,153 shares during the period. Deerfield Management Company L.P. acquired a new stake in shares of Shoulder Innovations in the 3rd quarter worth approximately $6,056,000. Alyeska Investment Group L.P. bought a new position in shares of Shoulder Innovations in the third quarter valued at approximately $5,667,000. TimesSquare Capital Management LLC bought a new position in shares of Shoulder Innovations in the third quarter valued at approximately $4,799,000. Finally, Federated Hermes Inc. acquired a new position in shares of Shoulder Innovations during the third quarter valued at approximately $2,510,000.

Shoulder Innovations Price Performance

Shares of SI opened at $15.18 on Friday. Shoulder Innovations has a 12 month low of $10.92 and a 12 month high of $17.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.07 and a quick ratio of 9.55. The stock has a fifty day moving average price of $13.77 and a 200 day moving average price of $13.86. The company has a market cap of $313.36 million and a P/E ratio of -0.07.

Shoulder Innovations (NYSE:SI) last posted its earnings results on Tuesday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.04. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%.The company had revenue of $14.42 million for the quarter, compared to analysts’ expectations of $12.69 million. On average, research analysts forecast that Shoulder Innovations will post -0.56 earnings per share for the current year.

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.