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

Shoulder Innovations, Inc. (NYSE:SI) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. One research 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 1 year target price among brokers that have issued ratings on the stock in the last year is $21.00.

SI has been the subject of several research reports. BTIG Research boosted their price target on shares of Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Piper Sandler restated an “overweight” rating and issued a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th.

Insiders Place Their Bets

In other news, CEO Robert Joseph Ball bought 2,200 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the completion of the purchase, the chief executive officer owned 278,866 shares in the company, valued at approximately $4,233,185.88. This trade represents a 0.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey S. Points bought 2,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $15.00 per share, with a total value of $30,000.00. Following the purchase, the chief financial officer owned 70,785 shares of the company’s stock, valued at approximately $1,061,775. This represents a 2.91% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 5,200 shares of company stock valued at $78,236. Insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Shoulder Innovations

A number of institutional investors and hedge funds have recently modified their holdings of SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Shoulder Innovations in the third quarter valued at $28,000. Rhumbline Advisers purchased a new stake in Shoulder Innovations in the third quarter valued at $54,000. Wells Fargo & Company MN lifted its position in Shoulder Innovations by 66.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after acquiring an additional 2,094 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Shoulder Innovations in the fourth quarter valued at $176,000. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new stake in Shoulder Innovations in the third quarter valued at $170,000.

Shoulder Innovations Stock Down 3.9%

Shoulder Innovations stock opened at $14.13 on Thursday. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $17.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.04 and a current ratio of 11.81. The firm has a 50 day moving average price of $14.25 and a 200 day moving average price of $14.29. The company has a market capitalization of $292.92 million and a PE ratio of -0.08.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.03. The business had revenue of $16.71 million during the quarter. Shoulder Innovations had a negative net margin of 81.78% and a negative return on equity of 35.11%. Research analysts expect that Shoulder Innovations will post -1.67 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.