BTIG Research Forecasts Strong Price Appreciation for Shoulder Innovations (NYSE:SI) Stock

Shoulder Innovations (NYSE:SI) had its price objective upped by research analysts at BTIG Research from $23.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 83.33% from the stock’s current price.

SI has been the topic of a number of other research reports. Morgan Stanley raised their target price on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target on shares of Shoulder Innovations in a research report on Wednesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.80.

Shoulder Innovations Stock Down 2.2%

Shares of NYSE SI opened at $13.09 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.09 and a quick ratio of 9.80. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $17.94. The stock has a market capitalization of $269.67 million and a P/E ratio of -0.11. The company has a 50-day moving average price of $13.71 and a 200-day moving average price of $13.86.

Insider Transactions at Shoulder Innovations

In related news, CEO Robert Joseph Ball acquired 3,900 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $1,763,824.73. This represents a 3.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 9,200 shares of company stock worth $136,642 in the last three months.

Institutional Investors Weigh In On Shoulder Innovations

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its holdings 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 worth $75,000 after purchasing an additional 2,094 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Shoulder Innovations during the third quarter valued at about $28,000. Rhumbline Advisers bought a new position in Shoulder Innovations during the third quarter worth about $54,000. Renaissance Technologies LLC bought a new position in Shoulder Innovations during the fourth quarter worth about $176,000. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of Shoulder Innovations in the third quarter worth about $170,000.

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.