Shoulder Innovations, Inc. (NYSE:SI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Shoulder Innovations, Inc. (NYSE:SI) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $21.00.

A number of equities analysts have weighed in on the stock. BTIG Research upped their price objective on shares of Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th.

Insiders Place Their Bets

In related news, CFO Jeffrey S. Points acquired 2,000 shares of Shoulder Innovations stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer owned 70,785 shares of the company’s stock, valued at approximately $1,061,775. The trade was a 2.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Joseph Ball acquired 2,200 shares of Shoulder Innovations stock in a transaction on Friday, March 13th. The shares were bought at an average price of $15.18 per share, with a total value of $33,396.00. Following the completion of the transaction, the chief executive officer directly owned 278,866 shares of the company’s stock, valued at $4,233,185.88. This trade represents a 0.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 5,200 shares of company stock valued at $78,236 over the last 90 days. 29.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shoulder Innovations

A number of large investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in shares of Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after buying an additional 2,094 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Shoulder Innovations during the third quarter worth $28,000. Rhumbline Advisers purchased a new stake in shares of Shoulder Innovations during the third quarter worth $54,000. Bank of America Corp DE grew its holdings in shares of Shoulder Innovations by 43.7% during the first quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after buying an additional 8,205 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Shoulder Innovations during the fourth quarter worth $176,000.

Shoulder Innovations Price Performance

NYSE:SI opened at $15.01 on Thursday. Shoulder Innovations has a 52 week low of $10.92 and a 52 week high of $17.94. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $311.22 million and a PE ratio of -0.09. The stock’s 50-day moving average price is $14.27 and its 200-day moving average price is $14.22.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The company 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%. As a group, equities analysts expect that Shoulder Innovations will post -1.67 EPS for the current fiscal year.

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.