Shoulder Innovations, Inc. (NYSE:SI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Shoulder Innovations, Inc. (NYSE:SI) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.00.

A number of equities research analysts recently weighed in on the company. BTIG Research upped their price objective on Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th.

Insider Buying and Selling at Shoulder Innovations

In related news, COO Matthew Fraser Ahearn sold 4,144 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $18.84, for a total transaction of $78,072.96. Following the completion of the sale, the chief operating officer directly owned 269,176 shares in the company, valued at $5,071,275.84. This represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shoulder Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sectoral Asset Management Inc. raised its stake in Shoulder Innovations by 14.4% in the fourth quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock valued at $7,042,000 after buying an additional 62,153 shares during the last quarter. Monashee Investment Management LLC purchased a new stake in Shoulder Innovations in the third quarter valued at about $502,000. CM Management LLC purchased a new stake in Shoulder Innovations in the fourth quarter valued at about $358,000. Royal Bank of Canada raised its stake in Shoulder Innovations by 7,046.3% in 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 during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Shoulder Innovations in the first quarter valued at about $252,000.

Shoulder Innovations Price Performance

SI opened at $18.64 on Monday. Shoulder Innovations has a 12-month low of $10.92 and a 12-month high of $19.79. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $14.88 and its 200-day simple moving average is $14.47. The company has a market capitalization of $386.59 million and a price-to-earnings ratio of -0.11.

Shoulder Innovations (NYSE:SI) last posted its quarterly 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 return on equity of 35.11% and a negative net margin of 81.78%.The business had revenue of $16.71 million for the quarter. On average, equities research analysts anticipate that Shoulder Innovations will post -1.67 earnings per share for the current fiscal year.

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.