Shoulder Innovations, Inc. (NYSE:SI) Receives Average Recommendation of “Moderate Buy” from Analysts

Shoulder Innovations, Inc. (NYSE:SI) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $21.00.

A number of research analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th. BTIG Research upped their price target on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th.

Shoulder Innovations Trading Down 0.4%

NYSE SI opened at $22.71 on Monday. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $22.92. The firm has a market cap of $470.92 million and a PE ratio of -0.14. The company has a 50 day moving average price of $15.40 and a 200 day moving average price of $14.65.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Shoulder Innovations had a negative net margin of 81.78% and a negative return on equity of 35.11%. The business had revenue of $16.71 million for the quarter. As a group, sell-side analysts forecast that Shoulder Innovations will post -1.67 EPS for the current fiscal year.

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 15,856 shares of the company’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 transaction of $296,190.08. Following the transaction, the chief operating officer owned 273,320 shares in the company, valued at approximately $5,105,617.60. This represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SI. Sectoral Asset Management Inc. boosted its holdings in shares of Shoulder Innovations by 14.4% in the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock valued at $7,042,000 after acquiring an additional 62,153 shares during the last quarter. Monashee Investment Management LLC purchased a new stake in shares of Shoulder Innovations in the 3rd quarter valued at $502,000. CM Management LLC purchased a new stake in shares of Shoulder Innovations in the 4th quarter valued at $358,000. Deerfield Management Company L.P. purchased a new stake in shares of Shoulder Innovations in the 3rd quarter valued at $6,056,000. Finally, Vanguard Group Inc. purchased a new stake in shares of Shoulder Innovations in the 3rd quarter valued at $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.