Shoulder Innovations, Inc. (NYSE:SI) Receives $20.60 Average PT from Brokerages

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

SI has been the subject of several analyst reports. Morgan Stanley raised their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Shoulder Innovations in a research report on Wednesday, November 12th. Wall Street Zen upgraded Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th.

Insider Activity at Shoulder Innovations

In other news, CEO Robert Joseph Ball bought 3,900 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was bought at an average cost of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the acquisition, the chief executive officer owned 118,457 shares in the company, valued at approximately $1,763,824.73. This trade represents a 3.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought 9,200 shares of company stock worth $136,642 over the last ninety days.

Institutional Investors Weigh In On Shoulder Innovations

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Shoulder Innovations in the third quarter valued at approximately $28,000. Rhumbline Advisers acquired a new position in shares of Shoulder Innovations in the 3rd quarter worth approximately $54,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Shoulder Innovations in the 3rd quarter valued at $170,000. Bank of America Corp DE acquired a new stake in shares of Shoulder Innovations during the third quarter worth $322,000. Finally, Monashee Investment Management LLC bought a new position in Shoulder Innovations during the third quarter worth $502,000.

Shoulder Innovations Price Performance

Shares of SI opened at $14.24 on Friday. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $17.94. 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 stock has a 50 day moving average price of $14.78. The stock has a market capitalization of $293.34 million and a price-to-earnings ratio of -0.12.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings data on Tuesday, November 11th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The firm had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $9.99 million. On average, equities analysts anticipate 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.