Shoulder Innovations, Inc. (NYSE:SI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Shoulder Innovations, Inc. (NYSE:SI) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $19.60.

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Shoulder Innovations from a “sell” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They issued a “buy” rating and a $20.00 target price for the company. BTIG Research reissued a “buy” rating and issued a $23.00 target price on shares of Shoulder Innovations in a report on Tuesday, September 9th. Morgan Stanley initiated coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They issued an “overweight” rating and a $18.00 price objective for the company. Finally, Zacks Research raised shares of Shoulder Innovations to a “hold” rating in a research note on Tuesday, August 26th.

Insider Buying and Selling

In related news, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $3,999,990.00. Following the completion of the transaction, the insider owned 1,885,136 shares in the company, valued at approximately $28,277,040. The trade was a 16.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Geoffrey B. Pardo bought 100,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $15.00 per share, with a total value of $1,500,000.00. Following the acquisition, the director owned 2,380,482 shares in the company, valued at approximately $35,707,230. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 787,982 shares of company stock valued at $11,823,542 in the last quarter.

Shoulder Innovations Stock Up 2.0%

SI opened at $12.41 on Wednesday. The stock has a market capitalization of $252.57 million and a PE ratio of -0.41. The company’s fifty day moving average is $13.68. Shoulder Innovations has a fifty-two week low of $11.51 and a fifty-two week high of $17.94.

Shoulder Innovations Company Profile

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.