Shoulder Innovations, Inc. (NYSE:SI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

Several equities analysts have recently issued reports on SI shares. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. Piper Sandler restated an “overweight” rating and issued a $18.00 price objective on shares of Shoulder Innovations in a research note on Wednesday, November 12th. Morgan Stanley lifted their target price on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th.

Shoulder Innovations Stock Up 1.8%

Shoulder Innovations stock opened at $13.51 on Tuesday. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week 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. The firm’s 50-day simple moving average is $14.18 and its 200 day simple moving average is $13.83. The stock has a market cap of $278.31 million and a PE ratio of -0.12.

Insider Buying and Selling at Shoulder Innovations

In related news, CEO Robert Joseph Ball purchased 3,900 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $14.89 per share, for a total transaction of $58,071.00. Following the purchase, the chief executive officer directly owned 118,457 shares in the company, valued at approximately $1,763,824.73. This trade represents a 3.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 9,200 shares of company stock worth $136,642.

Institutional Trading of Shoulder Innovations

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC bought a new position in shares of Shoulder Innovations during the 4th quarter worth $1,316,000. Walleye Capital LLC lifted its holdings in Shoulder Innovations by 30.1% during the fourth quarter. Walleye Capital LLC now owns 93,434 shares of the company’s stock valued at $1,336,000 after purchasing an additional 21,619 shares during the last quarter. State Street Corp boosted its position in Shoulder Innovations by 50.6% during the fourth quarter. State Street Corp now owns 58,422 shares of the company’s stock worth $835,000 after purchasing an additional 19,641 shares during the period. Wells Fargo & Company MN increased its stake in shares of 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. Finally, Jane Street Group LLC bought a new stake in shares of Shoulder Innovations in the fourth quarter valued at approximately $234,000.

About Shoulder Innovations

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.