Shoulder Innovations, Inc. (NYSE:SI) Receives $21.00 Consensus Target Price from Analysts

Shoulder Innovations, Inc. (NYSE:SI) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.00.

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shoulder Innovations in a research report on Monday, June 29th. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th.

Shoulder Innovations Price Performance

SI stock opened at $21.60 on Friday. The stock has a 50-day moving average price of $17.76 and a two-hundred day moving average price of $15.29. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $23.00. The stock has a market cap of $448.00 million and a PE ratio of -0.13. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The company had revenue of $16.71 million for the quarter. Shoulder Innovations had a negative return on equity of 35.11% and a negative net margin of 81.78%. Equities analysts forecast that Shoulder Innovations will post -1.67 EPS for the current fiscal year.

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 4,144 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $18.84, for a total transaction of $78,072.96. Following the sale, the chief operating officer directly owned 269,176 shares of the company’s stock, valued at $5,071,275.84. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Shoulder Innovations during the 3rd quarter worth approximately $28,000. Rhumbline Advisers bought a new position in shares of Shoulder Innovations in the third quarter valued at $54,000. Wells Fargo & Company MN increased its holdings in Shoulder Innovations by 66.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after buying an additional 2,094 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Shoulder Innovations during the fourth quarter worth $176,000. Finally, Blue Trust Inc. bought a new stake in Shoulder Innovations during the first quarter worth $228,000.

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.