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

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

Several other research firms have also recently weighed in on SI. Morgan Stanley initiated coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued an “overweight” rating and a $18.00 price objective on the stock. BTIG Research restated a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a report on Tuesday, September 9th. Zacks Research raised shares of Shoulder Innovations to a “hold” rating in a research report on Tuesday, August 26th. Piper Sandler initiated coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set an “overweight” rating and a $18.00 target price for the company. Finally, The Goldman Sachs Group started coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued a “buy” rating and a $20.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.60.

Shoulder Innovations Trading Down 4.9%

Shoulder Innovations stock opened at $12.50 on Friday. Shoulder Innovations has a fifty-two week low of $11.51 and a fifty-two week high of $17.94. The stock’s 50-day moving average price is $13.76. The stock has a market capitalization of $254.50 million and a PE ratio of -0.42.

Insider Buying and Selling at Shoulder Innovations

In other news, Director Casey M. Tansey purchased 40,000 shares of the stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $15.00 per share, with a total value of $600,000.00. Following the completion of the acquisition, the director owned 47,666 shares in the company, valued at $714,990. This represents a 521.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Healthcare Holding B.V. Gilde bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $1,500,000.00. Following the acquisition, the insider directly owned 2,380,482 shares in the company, valued at $35,707,230. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 787,982 shares of company stock worth $11,823,542 in the last three months. 1.71% of the stock is currently owned by corporate insiders.

Shoulder Innovations Company Profile

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.