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

Shares of Shoulder Innovations, Inc. (NYSE:SI) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.60.

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

Shoulder Innovations Trading Down 4.2%

NYSE:SI opened at $13.14 on Tuesday. The company has a market cap of $270.68 million and a PE ratio of -0.11. The business’s 50 day moving average is $14.33 and its two-hundred day moving average is $13.85. The company has a quick ratio of 9.80, a current ratio of 11.09 and a debt-to-equity ratio of 0.10. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $17.94.

Insider Activity

In related news, CEO Robert Joseph Ball bought 3,900 shares of the company’s stock in a transaction on Friday, December 12th. The shares were purchased at an average cost of $14.89 per share, with a total value of $58,071.00. Following the completion of the transaction, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. This represents a 3.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders purchased 9,200 shares of company stock valued at $136,642.

Hedge Funds Weigh In On Shoulder Innovations

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Shoulder Innovations in the 3rd quarter valued at about $28,000. Rhumbline Advisers acquired a new stake in shares of Shoulder Innovations in the third quarter valued at approximately $54,000. Wells Fargo & Company MN raised its holdings in shares of Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after buying an additional 2,094 shares during the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Shoulder Innovations during the third quarter worth approximately $170,000. Finally, Renaissance Technologies LLC bought a new position in Shoulder Innovations in the 4th quarter worth approximately $176,000.

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.