Analysts Set Shoulder Innovations, Inc. (NYSE:SI) PT at $21.00

Shoulder Innovations, Inc. (NYSE:SI) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat 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 12 month target price among brokerages that have issued a report on the stock in the last year is $21.00.

SI has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shoulder Innovations in a research note on Monday, June 29th.

Shoulder Innovations Stock Down 1.2%

Shares of SI stock opened at $20.73 on Friday. The firm’s fifty day moving average price is $18.06 and its two-hundred day moving average price is $15.37. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $23.00. The firm has a market capitalization of $430.02 million and a P/E ratio of -0.12.

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

Insiders Place Their Bets

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 15,856 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.68, for a total transaction of $296,190.08. Following the transaction, the chief operating officer owned 273,320 shares in the company, valued at $5,105,617.60. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by insiders.

Institutional Trading of Shoulder Innovations

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Shoulder Innovations in the 3rd quarter valued at approximately $28,000. Rhumbline Advisers bought a new position in shares of Shoulder Innovations in the 3rd quarter valued at $54,000. Wells Fargo & Company MN lifted its stake in shares of Shoulder Innovations by 66.3% in the 4th 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 acquired a new stake in shares of Shoulder Innovations during the 4th quarter valued at $176,000. Finally, Blue Trust Inc. bought a new stake in Shoulder Innovations during the 1st quarter worth $228,000.

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.