Shoulder Innovations, Inc. (NYSE:SI – Get Free Report) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.60.
A number of analysts have recently issued reports on the stock. BTIG Research restated a “buy” rating and set a $23.00 target price on shares of Shoulder Innovations in a research note on Tuesday, September 9th. Piper Sandler assumed coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set an “overweight” rating and a $18.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set a “buy” rating and a $19.00 target price for the company. Morgan Stanley assumed coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set an “overweight” rating and a $18.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set a “buy” rating and a $20.00 target price for the company.
Read Our Latest Research Report on Shoulder Innovations
Shoulder Innovations Trading Down 0.8%
Insiders Place Their Bets
In other Shoulder Innovations news, CFO Jeffrey S. Points acquired 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $15.67 per share, for a total transaction of $25,072.00. Following the purchase, the chief financial officer directly owned 52,445 shares of the company’s stock, valued at $821,813.15. This trade represents a 3.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Carusi acquired 266,666 shares of the company’s stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $3,999,990.00. Following the purchase, the director directly owned 1,885,136 shares in the company, valued at approximately $28,277,040. This represents a 16.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 787,982 shares of company stock worth $11,823,542.
About Shoulder Innovations
We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.
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