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

Shoulder Innovations, Inc. (NYSE:SI) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.60.

A number of research firms have weighed in on SI. The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Morgan Stanley raised their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $18.00 price target on shares of Shoulder Innovations in a research report on Wednesday, November 12th.

Insider Buying and Selling

In other Shoulder Innovations news, CEO Robert Joseph Ball purchased 3,900 shares of the stock in a transaction on Friday, December 12th. The stock was acquired at an average cost of $14.89 per share, with a total value of $58,071.00. Following the completion of the purchase, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. This trade represents a 3.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have acquired 9,200 shares of company stock valued at $136,642. 1.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shoulder Innovations

A number of hedge funds have recently modified their holdings of SI. Federated Hermes Inc. bought a new position in Shoulder Innovations in the third quarter worth $2,510,000. TimesSquare Capital Management LLC purchased a new stake in shares of Shoulder Innovations in the 3rd quarter worth about $4,799,000. Readystate Asset Management LP purchased a new stake in shares of Shoulder Innovations in the 3rd quarter worth about $511,000. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Shoulder Innovations in the 3rd quarter worth about $170,000. Finally, Jane Street Group LLC bought a new stake in Shoulder Innovations during the fourth quarter worth about $234,000.

Shoulder Innovations Price Performance

Shares of NYSE:SI opened at $13.35 on Tuesday. The company’s fifty day moving average price is $14.22 and its 200-day moving average price is $13.82. 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 firm has a market capitalization of $274.91 million and a price-to-earnings ratio of -0.11. Shoulder Innovations has a one year low of $10.92 and a one year high of $17.94.

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.