Shoulder Innovations, Inc. (NYSE:SI) Stock Has Average Target Price of $25.75 According to Brokerages

Shares of Shoulder Innovations, Inc. (NYSE:SI) have received an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $25.75.

Several brokerages have commented on SI. Weiss Ratings raised Shoulder Innovations from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 3rd. UBS Group increased their price objective on Shoulder Innovations from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Piper Sandler restated an “overweight” rating and issued a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a research note on Friday, August 7th. Finally, BTIG Research boosted their target price on shares of Shoulder Innovations from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, October 12th.

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 2,221,640 shares of the company’s stock, valued at $50,586,742.80. This represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Matthew Fraser Ahearn sold 14,186 shares of the business’s 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 sale, the chief operating officer owned 244,176 shares in the company, valued at approximately $5,125,254.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 178,964 shares of company stock worth $3,977,399 over the last three months. Company insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Shoulder Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its position in shares of Shoulder Innovations by 28.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,400 shares of the company’s stock valued at $120,000 after acquiring an additional 1,400 shares in the last quarter. Compass Financial Management LLC bought a new position in Shoulder Innovations during the 2nd quarter valued at about $30,000. Integrated Wealth Concepts LLC acquired a new position in Shoulder Innovations in the second quarter valued at about $35,000. Bank of America Corp DE grew its stake in Shoulder Innovations by 43.7% during the first quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after buying an additional 8,205 shares during the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of Shoulder Innovations during the first quarter worth approximately $228,000.

Shoulder Innovations Trading Down 6.2%

Shares of NYSE:SI opened at $19.18 on Friday. The company has a market cap of $399.29 million, a P/E ratio of -9.99 and a beta of -1.58. The stock’s 50-day moving average is $19.19 and its 200-day moving average is $17.01. Shoulder Innovations has a 52-week low of $10.92 and a 52-week high of $24.59. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.92 and a current ratio of 10.71.

Shoulder Innovations (NYSE:SI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.03). Shoulder Innovations had a negative return on equity of 23.61% and a negative net margin of 58.33%. The business had revenue of $17.18 million for the quarter. Equities research analysts predict that Shoulder Innovations will post -1.90 earnings per share for the current year.

Shoulder Innovations Company Profile

Shoulder Innovations, Inc is a medical device company focused on developing and commercializing products for shoulder arthroplasty, or shoulder replacement surgery. The company aims to address challenges associated with conventional shoulder-replacement procedures through implant designs intended to support surgical efficiency, fixation, and patient outcomes.

Its product portfolio includes shoulder replacement systems and related components, including glenoid implants and technologies designed for anatomic and reverse shoulder arthroplasty procedures.