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

Shoulder Innovations, Inc. (NYSE:SI) has received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $21.00.

A number of research firms recently issued reports on SI. Piper Sandler restated an “overweight” rating and set a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shoulder Innovations in a research note on Monday, June 29th.

Shoulder Innovations Stock Performance

SI opened at $22.46 on Friday. Shoulder Innovations has a 12-month low of $10.92 and a 12-month high of $23.00. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $465.82 million and a PE ratio of -0.13. The firm has a 50 day moving average of $17.60 and a two-hundred day moving average of $15.24.

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

Insiders Place Their Bets

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 15,856 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $18.68, for a total value of $296,190.08. Following the completion of the transaction, the chief operating officer directly owned 273,320 shares of the company’s stock, valued at approximately $5,105,617.60. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Shoulder Innovations

Several institutional investors have recently made changes to their positions in SI. Sectoral Asset Management Inc. lifted its stake in shares of Shoulder Innovations by 14.4% in the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock valued at $7,042,000 after purchasing an additional 62,153 shares during the period. Deerfield Management Company L.P. purchased a new position in Shoulder Innovations in the third quarter valued at $6,056,000. Alyeska Investment Group L.P. acquired a new position in shares of Shoulder Innovations in the third quarter worth about $5,667,000. Roubaix Capital LLC boosted its stake in shares of Shoulder Innovations by 61.9% during the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after acquiring an additional 98,305 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new stake in shares of Shoulder Innovations during the 3rd quarter worth about $1,836,000.

About Shoulder Innovations

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.