Shoulder Innovations (NYSE:SI) Reaches New 1-Year High – What’s Next?

Shoulder Innovations, Inc. (NYSE:SI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $23.86 and last traded at $24.2230, with a volume of 107211 shares changing hands. The stock had previously closed at $20.96.

Wall Street Analysts Forecast Growth

SI has been the topic of a number of recent research reports. Piper Sandler reiterated 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. UBS Group initiated coverage on shares of Shoulder Innovations in a research note on Tuesday. They set a “buy” rating and a $27.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Shoulder Innovations in a report on Monday, June 29th. Six investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoulder Innovations Trading Down 2.2%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.04 and a current ratio of 11.81. The firm has a market capitalization of $481.04 million and a P/E ratio of -0.14. The firm has a 50 day simple moving average of $18.86 and a two-hundred day simple moving average of $15.67.

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

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 4,144 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $18.84, for a total value of $78,072.96. Following the transaction, the chief operating officer owned 269,176 shares of the company’s stock, valued at approximately $5,071,275.84. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

Institutional Trading of Shoulder Innovations

A number of large investors have recently added to or reduced their stakes in SI. Deerfield Management Company L.P. purchased a new position in Shoulder Innovations in the third quarter valued at about $6,056,000. Alyeska Investment Group L.P. purchased a new stake in shares of Shoulder Innovations during the 3rd quarter worth approximately $5,667,000. Vanguard Group Inc. bought a new stake in shares of Shoulder Innovations in the 3rd quarter worth approximately $1,836,000. Roubaix Capital LLC lifted its stake in Shoulder Innovations by 61.9% in the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock valued at $3,736,000 after purchasing an additional 98,305 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Shoulder Innovations during the fourth quarter valued at $1,316,000.

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.