Shoulder Innovations, Inc. (NYSE:SI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shoulder Innovations, Inc. (NYSE:SI) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.60.

SI has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Wall Street Zen upgraded shares of Shoulder Innovations from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 22nd. BTIG Research reissued a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a research note on Tuesday, September 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Shoulder Innovations in a research report on Wednesday, November 12th.

Shoulder Innovations Price Performance

Shares of SI stock opened at $15.16 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.09 and a quick ratio of 9.80. The company has a 50-day moving average price of $13.96. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $17.94.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Tuesday, November 11th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The business had revenue of $11.76 million during the quarter, compared to the consensus estimate of $9.99 million. Equities analysts predict that Shoulder Innovations will post -0.56 earnings per share for the current year.

Insider Buying and Selling at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball purchased 3,900 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the acquisition, the chief executive officer owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. This represents a 3.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders bought 9,200 shares of company stock valued at $136,642.

Hedge Funds Weigh In On Shoulder Innovations

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Deerfield Management Company L.P. acquired a new stake in Shoulder Innovations in the 3rd quarter valued at $6,056,000. Alyeska Investment Group L.P. acquired a new stake in shares of Shoulder Innovations in the third quarter valued at about $5,667,000. Vanguard Group Inc. purchased a new stake in shares of Shoulder Innovations during the 3rd quarter valued at about $1,836,000. Citadel Advisors LLC acquired a new position in Shoulder Innovations during the 3rd quarter worth approximately $628,000. Finally, Bank of America Corp DE purchased a new position in Shoulder Innovations in the 3rd quarter worth approximately $322,000.

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.