Shoulder Innovations, Inc. (NYSE:SI) Receives $23.50 Consensus Target Price from Brokerages

Shoulder Innovations, Inc. (NYSE:SI) has earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.50.

SI has been the topic of a number of recent research reports. BTIG Research lifted their target price on Shoulder Innovations from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price (up from $19.00) on shares of Shoulder Innovations in a report on Friday, August 7th. UBS Group upped their price objective on shares of Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 3rd.

Insiders Place Their Bets

In related news, COO Matthew Fraser Ahearn sold 15,856 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was 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 of the company’s stock, valued at $5,105,617.60. The trade was a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 business’s stock in a transaction that occurred 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 owned 2,221,640 shares of the company’s stock, valued at approximately $50,586,742.80. This represents a 4.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 188,275 shares of company stock worth $4,219,793 in the last 90 days. 29.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sectoral Asset Management Inc. increased its position in Shoulder Innovations by 14.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock valued at $7,042,000 after purchasing an additional 62,153 shares during the period. Deerfield Management Company L.P. bought a new stake in Shoulder Innovations in the third quarter valued at $6,056,000. Alyeska Investment Group L.P. acquired a new position in Shoulder Innovations during the 3rd quarter worth approximately $5,667,000. Roubaix Capital LLC raised its position in shares of Shoulder Innovations by 61.9% during the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after purchasing an additional 98,305 shares during the period. Finally, Vanguard Group Inc. bought a new position in shares of Shoulder Innovations in the third quarter valued at $1,836,000.

Shoulder Innovations Stock Performance

Shares of NYSE:SI opened at $19.84 on Tuesday. The firm’s 50 day simple moving average is $20.60 and its 200 day simple moving average is $16.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 10.71 and a quick ratio of 8.92. The company has a market capitalization of $413.05 million and a price-to-earnings ratio of -10.33. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $24.59.

Shoulder Innovations (NYSE:SI) last posted its earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.03). The business had revenue of $17.18 million during the quarter. Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. As a group, sell-side analysts forecast that Shoulder Innovations will post -1.9 earnings per share for the current year.

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.