Shoulder Innovations, Inc. (NYSE:SI) Receives $20.60 Average Price Target from Analysts

Shoulder Innovations, Inc. (NYSE:SI) has received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.60.

Several research firms have commented on SI. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th. Morgan Stanley upped their price target on shares of Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Shoulder Innovations from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Piper Sandler restated an “overweight” rating and set a $18.00 target price on shares of Shoulder Innovations in a report on Wednesday, November 12th.

Insider Transactions at Shoulder Innovations

In other news, CEO Robert Joseph Ball acquired 3,900 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average cost 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 in the company, valued at approximately $1,763,824.73. The trade was a 3.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 9,200 shares of company stock worth $136,642.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Shoulder Innovations in the third quarter valued at about $28,000. Rhumbline Advisers acquired a new stake in Shoulder Innovations during the third quarter valued at 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 valued at approximately $170,000. Bank of America Corp DE acquired a new position in shares of Shoulder Innovations in the 3rd quarter worth approximately $322,000. Finally, Monashee Investment Management LLC bought a new position in shares of Shoulder Innovations during the 3rd quarter worth approximately $502,000.

Shoulder Innovations Price Performance

Shares of SI opened at $14.89 on Friday. The firm has a market capitalization of $306.82 million and a PE ratio of -0.13. The stock’s 50-day moving average is $14.80. Shoulder Innovations has a 12 month low of $10.92 and a 12 month high of $17.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.80 and a current ratio of 11.09.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results 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 company had revenue of $11.76 million for the quarter, compared to analyst estimates of $9.99 million. On average, research analysts anticipate that Shoulder Innovations will post -0.56 earnings per share for the current year.

Shoulder Innovations Company Profile

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.