Shoulder Innovations, Inc. (NYSE:SI) Stock Has Average Target Price of $25.50

Shoulder Innovations, Inc. (NYSE:SI) has earned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $25.50.

SI has been the topic of a number of recent analyst reports. BTIG Research increased their price target on shares of Shoulder Innovations from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a research note on Friday, August 7th. Finally, UBS Group boosted their target price on Shoulder Innovations from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, August 10th.

Insider Buying and Selling

In related news, major shareholder Healthcare Holding B.V. Gilde sold 1,196 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $22.60, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Matthew Fraser Ahearn sold 14,186 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total transaction of $297,764.14. Following the completion of the sale, the chief operating officer directly owned 244,176 shares of the company’s stock, valued at $5,125,254.24. This trade represents a 5.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 227,243 shares of company stock valued at $5,092,575. Company insiders own 29.00% of the company’s stock.

Institutional Trading of Shoulder Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of SI. Royal Bank of Canada increased its stake in shares of Shoulder Innovations by 7,046.3% in the first quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock worth $783,000 after buying an additional 53,129 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Shoulder Innovations during the second quarter worth about $896,000. Roubaix Capital LLC lifted its position in shares of Shoulder Innovations by 61.9% during the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after purchasing an additional 98,305 shares during the last quarter. KCM Capital Inc acquired a new position in Shoulder Innovations in the first quarter worth about $509,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Shoulder Innovations in the second quarter valued at about $35,000.

Shoulder Innovations Stock Up 1.5%

SI opened at $19.03 on Wednesday. The company has a quick ratio of 8.92, a current ratio of 10.71 and a debt-to-equity ratio of 0.12. The firm has a market cap of $396.19 million, a P/E ratio of -9.91 and a beta of -1.57. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $24.59. The business’s fifty day simple moving average is $20.26 and its 200 day simple moving average is $17.78.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.49) EPS 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, equities research analysts anticipate that Shoulder Innovations will post -1.9 EPS for the current fiscal year.

About Shoulder Innovations

Shoulder Innovations, Inc is a medical device company focused on developing and commercializing orthopedic products for shoulder replacement surgery. The company’s business centers on technologies intended to address conditions such as shoulder arthritis, rotator cuff damage and other causes of shoulder pain and limited mobility.

Its product portfolio includes shoulder arthroplasty systems and related implants, including the InSet glenoid technology and humeral components for anatomic and reverse shoulder replacement procedures.