Shoulder Innovations, Inc. (NYSE:SI) Receives $19.60 Average Target Price from Brokerages

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.60.

A number of analysts have commented on SI shares. Piper Sandler started coverage on Shoulder Innovations in a research report on Monday, August 25th. They set an “overweight” rating and a $18.00 price target for the company. BTIG Research reiterated a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a research note on Tuesday, September 9th. Zacks Research upgraded Shoulder Innovations to a “hold” rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded Shoulder Innovations from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Morgan Stanley initiated coverage on Shoulder Innovations in a research note on Monday, August 25th. They set an “overweight” rating and a $18.00 price objective for the company.

Insider Buying and Selling at Shoulder Innovations

In related news, major shareholder Healthcare Holding B.V. Gilde acquired 100,000 shares of Shoulder Innovations stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $1,500,000.00. Following the purchase, the insider owned 2,380,482 shares of the company’s stock, valued at approximately $35,707,230. This represents a 4.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $3,999,990.00. Following the purchase, the insider owned 1,885,136 shares in the company, valued at $28,277,040. This represents a 16.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 787,982 shares of company stock worth $11,823,542. Insiders own 1.71% of the company’s stock.

Shoulder Innovations Trading Up 1.7%

Shares of SI opened at $12.50 on Wednesday. The stock’s 50-day moving average price is $13.67. Shoulder Innovations has a one year low of $11.51 and a one year high of $17.94. The firm has a market cap of $254.56 million and a PE ratio of -0.42.

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.