Shoulder Innovations (NYSE:SI) Given New $27.00 Price Target at BTIG Research

Shoulder Innovations (NYSE:SI) had its price objective increased by BTIG Research from $26.00 to $27.00 in a report published on Monday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on SI. Weiss Ratings raised Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating and set a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a report on Friday, August 7th. Finally, UBS Group raised their price objective on shares of Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Shoulder Innovations currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

Shoulder Innovations Stock Performance

Shares of NYSE:SI opened at $18.34 on Monday. 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 business’s fifty day moving average price is $19.76 and its two-hundred day moving average price is $17.96. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $24.59. The stock has a market capitalization of $381.73 million, a price-to-earnings ratio of -9.55 and a beta of -1.58.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings data 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 company had revenue of $17.18 million for the quarter. Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. As a group, analysts predict that Shoulder Innovations will post -1.90 EPS for the current fiscal year.

Insider Transactions at Shoulder Innovations

In related news, COO Matthew Fraser Ahearn sold 14,186 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total value of $297,764.14. Following the transaction, the chief operating officer directly owned 244,176 shares in the company, valued at $5,125,254.24. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert Ball sold 10,175 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $18.45, for a total transaction of $187,728.75. Following the completion of the transaction, the chief executive officer directly owned 380,824 shares in the company, valued at approximately $7,026,202.80. The trade was a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 227,243 shares of company stock worth $5,092,575 in the last quarter. 29.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Roubaix Capital LLC boosted 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 purchasing an additional 98,305 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Shoulder Innovations by 7,046.3% during the first quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock worth $783,000 after purchasing an additional 53,129 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Shoulder Innovations during the second quarter worth $896,000. KCM Capital Inc bought a new stake in Shoulder Innovations in the first quarter valued at about $509,000. Finally, Bank of New York Mellon Corp bought a new stake in Shoulder Innovations in the first quarter valued at about $252,000.

Shoulder Innovations Company Profile

Shoulder Innovations, Inc is a medical technology company focused on developing, manufacturing and commercializing orthopedic products for shoulder arthroplasty, or shoulder replacement surgery. Its products are designed for use by orthopedic surgeons treating patients with conditions such as degenerative joint disease, fractures and rotator cuff-related shoulder damage.

The company’s portfolio includes shoulder replacement systems and related components intended to support both anatomic and reverse shoulder procedures.