BTIG Research Increases Shoulder Innovations (NYSE:SI) Price Target to $26.00

Shoulder Innovations (NYSE:SI) had its price objective raised by BTIG Research from $24.00 to $26.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 16.25% from the stock’s current price.

SI has been the subject of a number of other reports. UBS Group began coverage on Shoulder Innovations in a research note on Tuesday, July 28th. They set a “buy” rating and a $27.00 price objective for the company. Weiss Ratings upgraded shares of Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. Finally, Piper Sandler reissued an “overweight” rating and set a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a research report on Friday, May 8th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Shoulder Innovations Trading Down 1.0%

SI stock opened at $22.36 on Friday. The business has a fifty day moving average price of $19.79 and a 200 day moving average price of $16.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.81 and a quick ratio of 10.04. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $24.59. The stock has a market capitalization of $463.85 million and a price-to-earnings ratio of -0.13.

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

Insider Transactions at Shoulder Innovations

In related news, COO Matthew Fraser Ahearn sold 15,856 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.68, for a total value of $296,190.08. Following the completion of the transaction, the chief operating officer owned 273,320 shares in the company, valued at $5,105,617.60. This trade represents a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.77, for a total transaction of $2,272,719.24. Following the transaction, the insider directly owned 2,221,640 shares of the company’s stock, valued at $50,586,742.80. The trade was a 4.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 178,842 shares of company stock worth $4,006,314. Company insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Shoulder Innovations

A number of institutional investors and hedge funds have recently modified their holdings of SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Shoulder Innovations in the third quarter valued at $28,000. Rhumbline Advisers acquired a new stake in shares of Shoulder Innovations in the 3rd quarter valued at about $54,000. Wells Fargo & Company MN increased its position in Shoulder Innovations by 66.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after buying an additional 2,094 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Shoulder Innovations during the 4th quarter worth approximately $176,000. Finally, Blue Trust Inc. acquired a new position in Shoulder Innovations during the 1st quarter worth approximately $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.