Analysts Set Shoulder Innovations, Inc. (NYSE:SI) Target Price at $20.80

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.80.

Several brokerages have issued reports on SI. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. BTIG Research upped their price target on shares of Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. Finally, Morgan Stanley boosted their price objective on shares of Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd.

Shoulder Innovations Trading Up 2.8%

Shares of NYSE SI opened at $15.23 on Friday. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $17.94. The firm has a market cap of $314.58 million and a PE ratio of -0.07. The business has a fifty day simple moving average of $13.75 and a two-hundred day simple moving average of $13.85. The company has a quick ratio of 9.55, a current ratio of 11.07 and a debt-to-equity ratio of 0.11.

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

Institutional Investors Weigh In On Shoulder Innovations

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Shoulder Innovations during the third quarter valued at about $28,000. Rhumbline Advisers bought a new position in Shoulder Innovations in the third quarter worth about $54,000. Wells Fargo & Company MN raised its holdings in Shoulder Innovations by 66.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after purchasing an additional 2,094 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Shoulder Innovations during the fourth quarter valued at about $176,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Shoulder Innovations in the 3rd quarter valued at about $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.