Shoulder Innovations, Inc. (NYSE:SI) Receives $20.60 Average PT from Analysts

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

A number of equities research analysts have issued reports on SI shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price target on shares of Shoulder Innovations in a report on Wednesday, November 12th. Wall Street Zen raised Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Morgan Stanley raised their target price on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd.

Shoulder Innovations Trading Down 0.4%

NYSE SI opened at $14.22 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.09 and a quick ratio of 9.80. The company has a fifty day moving average of $14.79. Shoulder Innovations has a 12 month low of $10.92 and a 12 month high of $17.94. The stock has a market cap of $292.93 million and a price-to-earnings ratio of -0.12.

Shoulder Innovations (NYSE:SI) last posted its earnings results on Tuesday, November 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The firm had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $9.99 million. As a group, sell-side analysts predict that Shoulder Innovations will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

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, for a total transaction of $58,071.00. Following the completion of the purchase, the chief executive officer directly owned 118,457 shares in the company, valued at $1,763,824.73. The trade was a 3.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have bought a total of 9,200 shares of company stock valued at $136,642 over the last 90 days. Insiders own 1.71% of the company’s stock.

Institutional Investors Weigh In On Shoulder Innovations

A number of hedge funds have recently modified their holdings of the stock. Deerfield Management Company L.P. bought a new position in Shoulder Innovations during the third quarter valued at $6,056,000. Alyeska Investment Group L.P. purchased a new position in shares of Shoulder Innovations during the 3rd quarter valued at $5,667,000. TimesSquare Capital Management LLC bought a new position in shares of Shoulder Innovations during the 3rd quarter worth $4,799,000. Federated Hermes Inc. purchased a new stake in Shoulder Innovations in the 3rd quarter worth about $2,510,000. Finally, Vanguard Group Inc. bought a new stake in Shoulder Innovations in the 3rd quarter valued at about $1,836,000.

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.