Shoulder Innovations (NYSE:SI) Price Target Raised to $26.00

Shoulder Innovations (NYSE:SI) had its price objective lifted by BTIG Research from $24.00 to $26.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 16.25% from the company’s current price.

A number of other brokerages have also commented on SI. UBS Group initiated coverage on Shoulder Innovations in a report on Tuesday, July 28th. They set a “buy” rating and a $27.00 price target on the stock. Weiss Ratings raised shares of Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.33.

Shoulder Innovations Price Performance

SI opened at $22.36 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.81 and a quick ratio of 10.04. The company has a market capitalization of $463.85 million and a price-to-earnings ratio of -0.13. The firm’s fifty day moving average price is $19.79 and its two-hundred day moving average price is $16.04. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $24.59.

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

Insiders Place Their Bets

In other news, COO Matthew Fraser Ahearn sold 15,856 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.68, for a total value of $296,190.08. Following the transaction, the chief operating officer owned 273,320 shares of the company’s stock, valued at approximately $5,105,617.60. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.77, for a total value of $2,272,719.24. Following the completion of the sale, the insider owned 2,221,640 shares in the company, valued at $50,586,742.80. This trade represents a 4.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 178,842 shares of company stock valued at $4,006,314 over the last 90 days. Company insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Shoulder Innovations in the third quarter worth approximately $28,000. Rhumbline Advisers purchased a new stake in shares of Shoulder Innovations during the 3rd quarter valued at $54,000. Wells Fargo & Company MN lifted its holdings in shares of Shoulder Innovations by 66.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after acquiring an additional 2,094 shares during the last quarter. Renaissance Technologies LLC bought a new position in Shoulder Innovations in the fourth quarter valued at $176,000. Finally, Blue Trust Inc. purchased a new stake in Shoulder Innovations during the first quarter valued at about $228,000.

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.