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

Shoulder Innovations, Inc. (NYSE:SI) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $25.50.

A number of equities research analysts have commented on the stock. BTIG Research raised their price target on shares of Shoulder Innovations from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Piper Sandler reissued an “overweight” rating and set a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a research report on Friday, August 7th. UBS Group raised their target price on Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 3rd.

Shoulder Innovations Price Performance

Shoulder Innovations stock opened at $19.13 on Wednesday. The stock has a market capitalization of $398.29 million, a price-to-earnings ratio of -9.96 and a beta of -1.58. Shoulder Innovations has a 52-week low of $10.92 and a 52-week high of $24.59. The stock’s 50 day moving average price is $20.13 and its two-hundred day moving average price is $17.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.92 and a current ratio of 10.71.

Shoulder Innovations (NYSE:SI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.03). Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. The company had revenue of $17.18 million during the quarter. On average, equities analysts predict that Shoulder Innovations will post -1.9 earnings per share for the current year.

Insider Buying and Selling at Shoulder Innovations

In other news, major shareholder Healthcare Holding B.V. Gilde sold 1,196 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $22.60, for a total transaction of $27,029.60. Following the completion of the sale, the insider owned 2,185,914 shares in the company, valued at $49,401,656.40. The trade was a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Ball sold 10,175 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $18.45, for a total value of $187,728.75. Following the transaction, the chief executive officer directly owned 380,824 shares in the company, valued at $7,026,202.80. The trade was a 2.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 227,243 shares of company stock valued at $5,092,575. Company insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Roubaix Capital LLC grew its position in Shoulder Innovations by 61.9% in the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after purchasing an additional 98,305 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Shoulder Innovations by 7,046.3% during the 1st quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock worth $783,000 after buying an additional 53,129 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Shoulder Innovations in the 2nd quarter worth approximately $896,000. KCM Capital Inc purchased a new position in shares of Shoulder Innovations in the 1st quarter worth approximately $509,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Shoulder Innovations in the first quarter valued at approximately $252,000.

About Shoulder Innovations

Shoulder Innovations, Inc is a medical technology company focused on developing, manufacturing and commercializing orthopedic products for shoulder arthroplasty, or shoulder replacement surgery. Its products are designed for use by orthopedic surgeons treating patients with conditions such as degenerative joint disease, fractures and rotator cuff-related shoulder damage.

The company’s portfolio includes shoulder replacement systems and related components intended to support both anatomic and reverse shoulder procedures.