Shoulder Innovations, Inc. (NYSE:SI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shoulder Innovations, Inc. (NYSE:SI) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $21.00.

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

Shoulder Innovations Stock Up 0.5%

SI stock opened at $18.64 on Monday. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $19.79. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. The stock has a market cap of $386.59 million and a P/E ratio of -0.11. The business’s 50-day moving average price is $14.88 and its 200-day moving average price is $14.47.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Shoulder Innovations had a negative return on equity of 35.11% and a negative net margin of 81.78%.The firm had revenue of $16.71 million for the quarter. On average, equities research analysts forecast that Shoulder Innovations will post -1.67 EPS for the current year.

Insider Activity

In other news, COO Matthew Fraser Ahearn sold 4,144 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $18.84, for a total transaction of $78,072.96. Following the sale, the chief operating officer directly owned 269,176 shares of the company’s stock, valued at $5,071,275.84. This represents a 1.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by company insiders.

Institutional Trading of Shoulder Innovations

Several hedge funds have recently modified their holdings of the company. Deerfield Management Company L.P. bought a new position in shares of Shoulder Innovations during the 3rd quarter valued at approximately $6,056,000. Alyeska Investment Group L.P. bought a new position in Shoulder Innovations in the 3rd quarter valued at $5,667,000. Vanguard Group Inc. bought a new position in Shoulder Innovations in the 3rd quarter valued at $1,836,000. Roubaix Capital LLC grew its position in Shoulder Innovations by 61.9% in the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock valued at $3,736,000 after acquiring an additional 98,305 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Shoulder Innovations in the 4th quarter valued at $1,316,000.

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.