Shoulder Innovations (NYSE:SI) Price Target Raised to $24.00

Shoulder Innovations (NYSE:SI) had its price target lifted by BTIG Research from $23.00 to $24.00 in a report issued on Wednesday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $18.00 price objective on shares of Shoulder Innovations in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating on shares of Shoulder Innovations in a research note on Friday, January 9th. Finally, Morgan Stanley upped their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Five equities research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Shoulder Innovations Stock Up 1.8%

SI stock opened at $14.88 on Wednesday. The stock has a market cap of $307.23 million and a P/E ratio of -0.07. 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’s fifty day simple moving average is $13.73 and its two-hundred day simple moving average is $13.87. Shoulder Innovations has a 1-year low of $10.92 and a 1-year high of $17.94.

Shoulder Innovations (NYSE:SI) last announced its earnings results on Tuesday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.04. The firm had revenue of $14.42 million during the quarter, compared to analyst estimates 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 EPS for the current year.

Hedge Funds Weigh In On Shoulder Innovations

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SI. Deerfield Management Company L.P. purchased a new position in shares of Shoulder Innovations in the third quarter worth about $6,056,000. Alyeska Investment Group L.P. bought a new position in Shoulder Innovations in the 3rd quarter worth approximately $5,667,000. TimesSquare Capital Management LLC bought a new position in Shoulder Innovations in the 3rd quarter worth approximately $4,799,000. Federated Hermes Inc. purchased a new position in Shoulder Innovations in the 3rd quarter valued at approximately $2,510,000. Finally, Vanguard Group Inc. bought a new stake in Shoulder Innovations during the 3rd quarter valued at $1,836,000.

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.