Shoulder Innovations, Inc. (NYSE:SI) Receives $20.80 Average PT from Brokerages

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.80.

SI has been the subject of several research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Finally, BTIG Research lifted their target price on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 11th.

Shoulder Innovations Stock Up 0.9%

SI stock opened at $14.95 on Wednesday. Shoulder Innovations has a one year low of $10.92 and a one year high of $17.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 9.55 and a current ratio of 11.07. The firm’s 50 day moving average price is $13.90 and its 200-day moving average price is $13.86. The firm has a market cap of $308.72 million and a PE ratio of -0.07.

Shoulder Innovations (NYSE:SI) last posted its earnings results on Tuesday, March 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.04. Shoulder Innovations had a negative net margin of 85.29% and a negative return on equity of 37.68%. The firm had revenue of $14.42 million during the quarter, compared to the consensus estimate of $12.69 million. On average, equities research analysts anticipate that Shoulder Innovations will post -0.56 EPS for the current year.

Insider Activity at Shoulder Innovations

In related news, CEO Robert Joseph Ball bought 2,200 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the acquisition, the chief executive officer owned 278,866 shares of the company’s stock, valued at approximately $4,233,185.88. This trade represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey S. Points bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $15.00 per share, with a total value of $30,000.00. Following the acquisition, the chief financial officer directly owned 70,785 shares in the company, valued at $1,061,775. The trade was a 2.91% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 5,200 shares of company stock valued at $78,236 in the last quarter.

Hedge Funds Weigh In On Shoulder Innovations

Several institutional investors have recently modified their holdings of SI. Deerfield Management Company L.P. acquired a new position in shares of Shoulder Innovations in the third quarter worth $6,056,000. Alyeska Investment Group L.P. acquired a new position in shares of Shoulder Innovations in the third quarter worth $5,667,000. TimesSquare Capital Management LLC acquired a new position in shares of Shoulder Innovations in the third quarter worth $4,799,000. Federated Hermes Inc. acquired a new position in shares of Shoulder Innovations in the third quarter worth $2,510,000. Finally, Vanguard Group Inc. acquired a new position in shares of Shoulder Innovations in the third quarter worth $1,836,000.

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.