Shoulder Innovations, Inc. (NYSE:SI) Stock Has Consensus Target Price of $25.75

Shoulder Innovations, Inc. (NYSE:SI) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $25.75.

Several research firms have recently commented on SI. Piper Sandler reiterated an “overweight” rating and set a $25.00 target price (up from $19.00) on shares of Shoulder Innovations in a research note on Friday, August 7th. UBS Group raised their price target on shares of Shoulder Innovations from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 3rd. Finally, BTIG Research upped their price target on shares of Shoulder Innovations from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, October 12th.

Insiders Place Their Bets

In other news, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.77, for a total value of $2,272,719.24. Following the sale, the insider owned 2,221,640 shares in the company, valued at approximately $50,586,742.80. This represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Matthew Fraser Ahearn sold 14,186 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total transaction of $297,764.14. Following the completion of the sale, the chief operating officer owned 244,176 shares in the company, valued at approximately $5,125,254.24. This trade represents a 5.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 227,243 shares of company stock valued at $5,092,575 in the last ninety days. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Shoulder Innovations

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Shoulder Innovations by 7,046.3% during the first quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock valued at $783,000 after buying an additional 53,129 shares in the last quarter. Squarepoint Ops LLC bought a new position in Shoulder Innovations during the 2nd quarter worth approximately $896,000. Roubaix Capital LLC grew its position in shares of Shoulder Innovations by 61.9% in the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after acquiring an additional 98,305 shares in the last quarter. KCM Capital Inc acquired a new position in shares of Shoulder Innovations in the 1st quarter worth approximately $509,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Shoulder Innovations in the 2nd quarter valued at approximately $35,000.

Shoulder Innovations Trading Down 0.5%

Shares of SI opened at $19.66 on Friday. Shoulder Innovations has a one year low of $10.92 and a one year high of $24.59. The stock has a 50-day moving average price of $19.36 and a 200 day moving average price of $18.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.92 and a current ratio of 10.71. The company has a market capitalization of $409.30 million, a P/E ratio of -10.24 and a beta of -1.58.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.03). Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%. The business had revenue of $17.18 million for the quarter. Sell-side analysts forecast that Shoulder Innovations will post -1.90 EPS for the current fiscal year.

Shoulder Innovations Company Profile

Shoulder Innovations, Inc is a medical device company focused on developing and commercializing products for shoulder arthroplasty, or shoulder replacement surgery. The company aims to address challenges associated with conventional shoulder-replacement procedures through implant designs intended to support surgical efficiency, fixation, and patient outcomes.

Its product portfolio includes shoulder replacement systems and related components, including glenoid implants and technologies designed for anatomic and reverse shoulder arthroplasty procedures.