Brokerages Set Shoulder Innovations, Inc. (NYSE:SI) Price Target at $20.60

Shoulder Innovations, Inc. (NYSE:SI) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.60.

A number of research analysts have recently weighed in on SI shares. Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Shoulder Innovations in a report on Wednesday, November 12th. Morgan Stanley increased their target price on shares of Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Wall Street Zen raised Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Finally, BTIG Research reissued a “buy” rating and issued a $23.00 price objective on shares of Shoulder Innovations in a research note on Tuesday, September 9th.

Shoulder Innovations Price Performance

SI opened at $14.33 on Monday. The stock has a market cap of $295.10 million and a P/E ratio of -0.12. 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 fifty-two week low of $10.92 and a fifty-two week high of $17.94. The business’s 50-day moving average price is $14.17.

Shoulder Innovations (NYSE:SI) last released its quarterly earnings data on Tuesday, November 11th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The company had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $9.99 million. On average, equities research analysts expect that Shoulder Innovations will post -0.56 earnings per share for the current fiscal year.

Insider Activity at Shoulder Innovations

In other news, CEO Robert Joseph Ball acquired 3,900 shares of Shoulder Innovations stock in a transaction dated Friday, December 12th. The stock was acquired 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 owned 118,457 shares of the company’s stock, valued at $1,763,824.73. This represents a 3.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 9,200 shares of company stock valued at $136,642 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. bought a new stake in Shoulder Innovations during the third quarter valued at about $6,056,000. Alyeska Investment Group L.P. bought a new stake in Shoulder Innovations during the 3rd quarter valued at approximately $5,667,000. TimesSquare Capital Management LLC acquired a new stake in Shoulder Innovations in the 3rd quarter valued at approximately $4,799,000. Federated Hermes Inc. bought a new position in Shoulder Innovations in the 3rd quarter worth approximately $2,510,000. Finally, Vanguard Group Inc. acquired a new position in shares of Shoulder Innovations during the third quarter worth approximately $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.