Shoulder Innovations, Inc. (NYSE:SI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Shoulder Innovations, Inc. (NYSE:SI) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.60.

SI has been the topic of several research reports. Wall Street Zen raised shares of Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. The Goldman Sachs Group began coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued a “buy” rating and a $20.00 price target on the stock. BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a research report on Tuesday, September 9th. Jefferies Financial Group initiated coverage on Shoulder Innovations in a research note on Monday, August 25th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Piper Sandler began coverage on Shoulder Innovations in a research note on Monday, August 25th. They set an “overweight” rating and a $18.00 price target for the company.

Insider Buying and Selling at Shoulder Innovations

In other news, CEO Robert Joseph Ball acquired 6,000 shares of Shoulder Innovations stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $15.49 per share, for a total transaction of $92,940.00. Following the completion of the transaction, the chief executive officer directly owned 111,259 shares in the company, valued at approximately $1,723,401.91. This trade represents a 5.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey S. Points acquired 1,600 shares of the stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $15.67 per share, for a total transaction of $25,072.00. Following the acquisition, the chief financial officer directly owned 52,445 shares in the company, valued at $821,813.15. This represents a 3.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 9,600 shares of company stock valued at $147,812 in the last 90 days. Company insiders own 1.71% of the company’s stock.

Institutional Trading of Shoulder Innovations

A number of institutional investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new position in Shoulder Innovations during the third quarter worth $2,510,000. Board of Trustees of The Leland Stanford Junior University acquired a new stake in Shoulder Innovations in the third quarter valued at $170,000. Rhumbline Advisers purchased a new stake in shares of Shoulder Innovations during the 3rd quarter worth $54,000. TimesSquare Capital Management LLC acquired a new position in shares of Shoulder Innovations during the 3rd quarter worth $4,799,000. Finally, Vanguard Group Inc. purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $1,836,000.

Shoulder Innovations Stock Performance

Shares of Shoulder Innovations stock opened at $11.05 on Friday. The firm has a fifty day simple moving average of $13.15. Shoulder Innovations has a 12 month low of $11.00 and a 12 month high of $17.94.

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.