Shoulder Innovations (NYSE:SI) Given Overweight Rating at Piper Sandler

Shoulder Innovations (NYSE:SI)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a note issued to investors on Wednesday,Benzinga reports. They currently have a $18.00 target price on the stock. Piper Sandler’s price target indicates a potential upside of 19.36% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley initiated coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They issued an “overweight” rating and a $18.00 price target on the stock. Wall Street Zen raised Shoulder Innovations from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings assumed coverage on Shoulder Innovations in a research note on Friday, October 24th. They set a “sell (e)” rating on the stock. The Goldman Sachs Group started coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on Shoulder Innovations in a research note on Monday, August 25th. They set a “buy” rating and a $19.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.60.

Shoulder Innovations Stock Performance

Shares of SI stock traded up $3.72 on Wednesday, hitting $15.08. 297,180 shares of the company’s stock traded hands, compared to its average volume of 127,023. The firm’s fifty day moving average is $12.98. Shoulder Innovations has a one year low of $10.92 and a one year high of $17.94.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings data on Tuesday, November 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The firm had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $9.99 million. Shoulder Innovations has set its FY 2025 guidance at EPS. As a group, analysts forecast that Shoulder Innovations will post -0.56 EPS for the current year.

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, CFO Jeffrey S. Points bought 1,600 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average price of $15.67 per share, with a total value of $25,072.00. Following the purchase, the chief financial officer owned 52,445 shares of the company’s stock, valued at $821,813.15. This trade represents a 3.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Joseph Ball bought 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $15.49 per share, with a total value of $92,940.00. Following the completion of the purchase, the chief executive officer directly owned 111,259 shares of the company’s stock, valued at $1,723,401.91. This represents a 5.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 9,600 shares of company stock worth $147,812 in the last three months.

Institutional Trading of Shoulder Innovations

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers bought a new stake in Shoulder Innovations during the third quarter worth approximately $54,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Shoulder Innovations in the 3rd quarter worth about $170,000. Readystate Asset Management LP purchased a new stake in Shoulder Innovations in the 3rd quarter worth about $511,000. Vanguard Group Inc. purchased a new position in shares of Shoulder Innovations during the third quarter valued at approximately $1,836,000. Finally, Federated Hermes Inc. bought a new position in shares of Shoulder Innovations during the third quarter valued at approximately $2,510,000.

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.