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

Shares of Shoulder Innovations, Inc. (NYSE:SI) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. One 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 target among brokerages that have covered the stock in the last year is $21.00.

SI has been the topic of several analyst reports. BTIG Research raised their price target on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th.

Insider Activity

In related news, CEO Robert Joseph Ball bought 2,200 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the completion of the transaction, the chief executive officer directly owned 278,866 shares in the company, valued at $4,233,185.88. This trade represents a 0.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey S. Points acquired 2,000 shares of Shoulder Innovations stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $15.00 per share, with a total value of $30,000.00. Following the completion of the purchase, the chief financial officer owned 70,785 shares in the company, valued at $1,061,775. The trade was a 2.91% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 5,200 shares of company stock worth $78,236. Company insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Shoulder Innovations

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

Shoulder Innovations Stock Down 1.3%

SI stock opened at $13.82 on Thursday. The firm has a market cap of $286.54 million and a PE ratio of -0.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.04 and a current ratio of 11.81. The firm’s fifty day moving average is $14.22 and its 200 day moving average is $14.28. Shoulder Innovations has a one year low of $10.92 and a one year high of $17.94.

Shoulder Innovations (NYSE:SI) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.03. The company had revenue of $16.71 million for the quarter. Shoulder Innovations had a negative net margin of 81.78% and a negative return on equity of 35.11%. On average, research analysts forecast that Shoulder Innovations will post -1.67 EPS for the current year.

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.