Shoulder Innovations (NYSE:SI) Given “Buy” Rating at BTIG Research

BTIG Research restated their buy rating on shares of Shoulder Innovations (NYSE:SI) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $23.00 price target on the stock.

SI has been the subject of several other research reports. Piper Sandler began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set an “overweight” rating and a $18.00 price objective for the company. Wall Street Zen downgraded shares of Shoulder Innovations from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Morgan Stanley began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set an “overweight” rating and a $18.00 price objective for the company. Jefferies Financial Group began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set a “buy” rating and a $19.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set a “buy” rating and a $20.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Shoulder Innovations has an average rating of “Moderate Buy” and an average target price of $19.60.

Shoulder Innovations Stock Down 6.5%

Shares of Shoulder Innovations stock opened at $14.87 on Tuesday. The firm has a market capitalization of $226.47 million and a P/E ratio of -0.50. Shoulder Innovations has a fifty-two week low of $11.75 and a fifty-two week high of $17.94.

Insider Activity

In other Shoulder Innovations news, major shareholder Lsv Associates Ii, Llc bought 266,666 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $3,999,990.00. Following the transaction, the insider owned 1,885,136 shares of the company’s stock, valued at $28,277,040. This represents a 16.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Casey M. Tansey bought 40,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $600,000.00. Following the completion of the transaction, the director directly owned 47,666 shares in the company, valued at approximately $714,990. This represents a 521.78% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 778,382 shares of company stock worth $11,675,730.

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.