Shoulder Innovations (NYSE:SI) Now Covered by UBS Group

Analysts at UBS Group began coverage on shares of Shoulder Innovations (NYSE:SI) in a research report issued on Tuesday. The brokerage set a “buy” rating and a $27.00 price target on the stock. UBS Group’s price target suggests a potential upside of 28.64% from the stock’s current price.

A number of other brokerages have also recently issued reports on SI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shoulder Innovations in a research note on Monday, June 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Shoulder Innovations Stock Performance

Shoulder Innovations stock opened at $20.99 on Tuesday. Shoulder Innovations has a twelve month low of $10.92 and a twelve month high of $23.00. The company has a quick ratio of 10.04, a current ratio of 11.81 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $435.31 million and a P/E ratio of -0.13. The stock’s 50 day moving average is $18.50 and its 200 day moving average is $15.55.

Shoulder Innovations (NYSE:SI) last released its earnings results on Wednesday, May 13th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate 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 predict that Shoulder Innovations will post -1.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Matthew Fraser Ahearn sold 15,856 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.68, for a total transaction of $296,190.08. Following the transaction, the chief operating officer owned 273,320 shares in the company, valued at $5,105,617.60. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shoulder Innovations

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers purchased a new position in shares of Shoulder Innovations in the 3rd quarter worth $54,000. Vanguard Group Inc. purchased a new stake in Shoulder Innovations during the third quarter valued at $1,836,000. Deerfield Management Company L.P. bought a new position in Shoulder Innovations in the third quarter valued at about $6,056,000. Bank of America Corp DE purchased a new position in Shoulder Innovations in the third quarter worth about $322,000. Finally, Citadel Advisors LLC bought a new stake in shares of Shoulder Innovations during the 3rd quarter valued at about $628,000.

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.