Shoulder Innovations (NYSE:SI) Stock Rating Lowered by Wall Street Zen

Shoulder Innovations (NYSE:SI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other analysts have also commented on SI. Jefferies Financial Group began coverage on Shoulder Innovations in a research note on Monday, August 25th. They set a “buy” rating and a $19.00 price objective on the stock. Piper Sandler began coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued an “overweight” rating and a $18.00 price objective for the company. Zacks Research raised Shoulder Innovations to a “hold” rating in a research report on Tuesday, August 26th. 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 objective for the company. Finally, BTIG Research reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Shoulder Innovations in a research report on Tuesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.60.

Shoulder Innovations Trading Down 2.8%

SI opened at $12.15 on Friday. The firm has a market capitalization of $247.37 million and a price-to-earnings ratio of -0.41. Shoulder Innovations has a 52 week low of $11.75 and a 52 week high of $17.94. The firm’s fifty day moving average is $14.08.

Insider Transactions at Shoulder Innovations

In other news, major shareholder Lsv Associates Ii, Llc bought 266,666 shares of Shoulder Innovations stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $3,999,990.00. Following the completion of the acquisition, the insider owned 1,885,136 shares of the company’s stock, valued at $28,277,040. The trade was a 16.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey B. Pardo bought 100,000 shares of Shoulder Innovations stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $1,500,000.00. Following the acquisition, the director directly owned 2,380,482 shares of the company’s stock, valued at $35,707,230. The trade was a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 787,982 shares of company stock valued at $11,823,542 in the last ninety days. Company insiders own 1.71% of the company’s stock.

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.