Analysts Set Shoulder Innovations, Inc. (NYSE:SI) Price Target at $20.60

by · The Markets Daily

Shoulder Innovations, Inc. (NYSE:SI – Get Free Report) has been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.60.

SI has been the topic of a number of research analyst reports. Wall Street Zen raised Shoulder Innovations from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. BTIG Research reiterated a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a research report on Tuesday, September 9th. Piper Sandler restated an “overweight” rating and issued a $18.00 target price on shares of Shoulder Innovations in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday. Finally, Morgan Stanley lifted their price target on shares of Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd.

Check Out Our Latest Report on SI

Insiders Place Their Bets

In other Shoulder Innovations news, CEO Robert Joseph Ball purchased 3,900 shares of the stock in a transaction on Friday, December 12th. The stock was acquired at an average cost of $14.89 per share, with a total value of $58,071.00. Following the completion of the purchase, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at approximately $1,763,824.73. This trade represents a 3.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have acquired 9,200 shares of company stock valued at $136,642 over the last ninety days. Insiders own 1.71% of the company’s stock.

Institutional Trading of Shoulder Innovations

A number of institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Shoulder Innovations in the 3rd quarter worth about $28,000. Rhumbline Advisers bought a new stake in shares of Shoulder Innovations in the third quarter worth approximately $54,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of Shoulder Innovations during the third quarter valued at approximately $170,000. Bank of America Corp DE purchased a new position in shares of Shoulder Innovations during the third quarter valued at approximately $322,000. Finally, Monashee Investment Management LLC bought a new position in Shoulder Innovations during the third quarter valued at approximately $502,000.

Shoulder Innovations Price Performance

Shares of SI opened at $14.28 on Monday. Shoulder Innovations has a 1-year low of $10.92 and a 1-year high of $17.94. The stock has a market capitalization of $294.17 million and a P/E ratio of -0.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.09 and a quick ratio of 9.80. The company has a 50 day moving average of $14.09.

Shoulder Innovations (NYSE:SI – Get Free Report) last issued its quarterly earnings results on Tuesday, November 11th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The firm had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $9.99 million. On average, equities analysts anticipate that Shoulder Innovations will post -0.56 earnings per share for the current year.

About Shoulder Innovations

(Get Free Report)

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.

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