Brokerages Set Shoulder Innovations, Inc. (NYSE:SI) PT at $21.00

Shares of Shoulder Innovations, Inc. (NYSE:SI) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $21.00.

Several research analysts have commented on SI shares. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. BTIG Research raised their price objective on Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th.

Insider Buying and Selling

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 15,856 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.68, for a total transaction of $296,190.08. Following the transaction, the chief operating officer directly owned 273,320 shares in the company, valued at $5,105,617.60. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Shoulder Innovations during the 3rd quarter worth $28,000. Rhumbline Advisers purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at $54,000. Wells Fargo & Company MN increased its holdings in shares of Shoulder Innovations by 66.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock valued at $75,000 after acquiring an additional 2,094 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Shoulder Innovations in the 4th quarter valued at about $176,000. Finally, Blue Trust Inc. bought a new stake in shares of Shoulder Innovations in the 1st quarter valued at about $228,000.

Shoulder Innovations Price Performance

Shares of SI stock opened at $22.71 on Monday. Shoulder Innovations has a 52-week low of $10.92 and a 52-week high of $22.92. 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 $470.92 million and a P/E ratio of -0.14. The stock has a 50 day moving average price of $15.40 and a 200 day moving average price of $14.65.

Shoulder Innovations (NYSE:SI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. Shoulder Innovations had a negative return on equity of 35.11% and a negative net margin of 81.78%.The firm had revenue of $16.71 million during the quarter. As a group, sell-side analysts predict that Shoulder Innovations will post -1.67 earnings per share for the current year.

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.