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

Shoulder Innovations, Inc. (NYSE:SI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $25.50.

A number of research firms recently weighed in on SI. Weiss Ratings upgraded Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 3rd. BTIG Research raised their target price on shares of Shoulder Innovations from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Piper Sandler restated an “overweight” rating and issued a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a report on Friday, August 7th. Finally, UBS Group lifted their target price on shares of Shoulder Innovations from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, August 10th.

Shoulder Innovations Trading Down 0.3%

Shares of SI stock opened at $20.33 on Friday. The stock has a market capitalization of $423.25 million, a price-to-earnings ratio of -10.59 and a beta of -1.77. The company’s fifty day simple moving average is $21.33 and its two-hundred day simple moving average is $17.09. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $24.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 10.71 and a quick ratio of 8.92.

Shoulder Innovations (NYSE:SI) last posted its earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.03). The firm had revenue of $17.18 million for the quarter. Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%. As a group, analysts anticipate that Shoulder Innovations will post -1.9 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Matthew Fraser Ahearn sold 14,186 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total value of $297,764.14. Following the transaction, the chief operating officer owned 244,176 shares of the company’s stock, valued at approximately $5,125,254.24. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Healthcare Holding B.V. Gilde sold 1,196 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $22.60, for a total value of $27,029.60. Following the transaction, the insider directly owned 2,185,914 shares of the company’s stock, valued at approximately $49,401,656.40. The trade was a 0.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 237,068 shares of company stock worth $5,279,109. 29.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shoulder Innovations

A number of institutional investors and hedge funds have recently modified their holdings of SI. Compass Financial Management LLC bought a new position in Shoulder Innovations during the 2nd quarter valued at about $30,000. Wells Fargo & Company MN increased its stake in Shoulder Innovations by 66.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after purchasing an additional 2,094 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Shoulder Innovations in the third quarter worth about $28,000. California State Teachers Retirement System lifted its position in Shoulder Innovations by 412.4% during the second quarter. California State Teachers Retirement System now owns 2,941 shares of the company’s stock valued at $60,000 after purchasing an additional 2,367 shares during the period. Finally, Rhumbline Advisers acquired a new position in Shoulder Innovations in the third quarter valued at approximately $54,000.

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.