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

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $23.50.

A number of research firms have recently commented on SI. Weiss Ratings raised Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. BTIG Research lifted their target price on Shoulder Innovations from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. UBS Group boosted their target price on Shoulder Innovations from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Sandler reissued an “overweight” rating and issued a $25.00 target price (up from $19.00) on shares of Shoulder Innovations in a report on Friday.

Insider Buying and Selling

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 15,856 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.68, for a total value of $296,190.08. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.77, for a total transaction of $2,272,719.24. Following the sale, the insider directly owned 2,221,640 shares in the company, valued at approximately $50,586,742.80. The trade was a 4.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 188,275 shares of company stock valued at $4,219,793. 29.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shoulder Innovations

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in Shoulder Innovations by 43.7% during the 1st quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after acquiring an additional 8,205 shares during the last quarter. Royal Bank of Canada raised its position in Shoulder Innovations by 7,046.3% in the first quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock valued at $783,000 after purchasing an additional 53,129 shares during the last quarter. KCM Capital Inc bought a new position in Shoulder Innovations in the first quarter valued at about $509,000. Roubaix Capital LLC boosted its stake in shares of Shoulder Innovations by 61.9% during the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock valued at $3,736,000 after purchasing an additional 98,305 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Shoulder Innovations during the first quarter valued at about $252,000.

Shoulder Innovations Stock Up 1.9%

Shares of SI opened at $20.99 on Tuesday. Shoulder Innovations has a one year low of $10.92 and a one year high of $24.59. The company has a market cap of $437.01 million and a P/E ratio of -10.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 10.71 and a quick ratio of 8.92. The firm has a 50 day simple moving average of $20.04 and a two-hundred day simple moving average of $16.14.

Shoulder Innovations (NYSE:SI) last issued its earnings results 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. The firm had revenue of $16.71 million for the quarter. Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%. Research analysts forecast that Shoulder Innovations will post -1.67 EPS for the current fiscal year.

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.