Shoulder Innovations (NYSE:SI) Price Target Raised to $27.00

Shoulder Innovations (NYSE:SI) had its target price lifted by BTIG Research from $26.00 to $27.00 in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

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

Shoulder Innovations Stock Down 0.7%

Shares of NYSE:SI opened at $17.95 on Monday. The company has a market cap of $373.68 million, a price-to-earnings ratio of -9.35 and a beta of -1.58. Shoulder Innovations has a 12 month low of $10.92 and a 12 month high of $24.59. The company has a current ratio of 10.71, a quick ratio of 8.92 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $19.57 and a 200 day moving average price of $18.01.

Shoulder Innovations (NYSE:SI) last issued 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 company had revenue of $17.18 million for the quarter. As a group, equities research analysts predict that Shoulder Innovations will post -1.90 earnings per share for the current year.

Insiders Place Their Bets

In other Shoulder Innovations news, CEO Robert Ball sold 10,175 shares of Shoulder Innovations stock in a transaction on Monday, September 14th. The stock was sold at an average price of $18.45, for a total transaction of $187,728.75. Following the completion of the sale, the chief executive officer directly owned 380,824 shares of the company’s stock, valued at $7,026,202.80. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the company’s 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 of the company’s stock, valued at $50,586,742.80. This represents a 4.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 227,243 shares of company stock worth $5,092,575 in the last ninety days. 29.00% of the stock is owned by company insiders.

Institutional Trading of Shoulder Innovations

Several institutional investors and hedge funds have recently made changes to their positions in SI. Roubaix Capital LLC increased its position in Shoulder Innovations by 61.9% during the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock valued at $3,736,000 after purchasing an additional 98,305 shares during the period. Royal Bank of Canada raised its holdings in shares of Shoulder Innovations by 7,046.3% in the 1st quarter. Royal Bank of Canada now owns 53,883 shares of the company’s stock valued at $783,000 after purchasing an additional 53,129 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Shoulder Innovations in the 2nd quarter valued at about $896,000. KCM Capital Inc purchased a new stake in shares of Shoulder Innovations in the 1st quarter worth approximately $509,000. Finally, Bank of America Corp DE lifted its position in shares of Shoulder Innovations by 43.7% in the 1st quarter. Bank of America Corp DE now owns 26,983 shares of the company’s stock worth $392,000 after purchasing an additional 8,205 shares during the period.

About Shoulder Innovations

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.