BTIG Research Forecasts Strong Price Appreciation for Shoulder Innovations (NYSE:SI) Stock

Shoulder Innovations (NYSE:SI) had its price objective lifted by stock analysts at BTIG Research from $23.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 63.72% from the stock’s current price.

Several other equities research analysts have also commented on SI. Piper Sandler restated an “overweight” rating and set a $18.00 target price on shares of Shoulder Innovations in a research report on Wednesday, November 12th. Morgan Stanley boosted their price target on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Shoulder Innovations presently has an average rating of “Moderate Buy” and a consensus price target of $20.80.

Shoulder Innovations Stock Performance

Shares of SI opened at $14.66 on Wednesday. The company has a current ratio of 11.07, a quick ratio of 9.80 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $301.98 million and a P/E ratio of -0.07. The firm’s fifty day simple moving average is $13.72 and its two-hundred day simple moving average is $13.87. Shoulder Innovations has a 12 month low of $10.92 and a 12 month high of $17.94.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%.The firm had revenue of $14.42 million during the quarter, compared to the consensus estimate of $12.69 million. As a group, analysts predict that Shoulder Innovations will post -0.56 EPS for the current year.

Institutional Trading of Shoulder Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Shoulder Innovations during the 3rd quarter worth approximately $28,000. Rhumbline Advisers acquired a new stake in Shoulder Innovations in the third quarter valued at approximately $54,000. Wells Fargo & Company MN increased its holdings in shares of Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after acquiring an additional 2,094 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Shoulder Innovations during the fourth quarter valued at approximately $176,000. Finally, Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Shoulder Innovations during the third quarter worth approximately $170,000.

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.