Wall Street Zen Downgrades Shoulder Innovations (NYSE:SI) to Sell

Shoulder Innovations (NYSE:SI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group assumed coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued a “buy” rating and a $20.00 target price for the company. Zacks Research raised Shoulder Innovations to a “hold” rating in a research report on Tuesday, August 26th. Piper Sandler assumed coverage on Shoulder Innovations in a research report on Monday, August 25th. They set an “overweight” rating and a $18.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Shoulder Innovations in a research report on Tuesday, September 9th. Finally, Morgan Stanley started coverage on Shoulder Innovations in a research report on Monday, August 25th. They set an “overweight” rating and a $18.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

Shoulder Innovations Trading Down 2.8%

SI opened at $12.15 on Friday. Shoulder Innovations has a one year low of $11.75 and a one year high of $17.94. The stock has a market cap of $247.37 million and a P/E ratio of -0.41. The firm has a 50-day simple moving average of $14.08.

Insiders Place Their Bets

In other news, Director Casey M. Tansey acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $600,000.00. Following the purchase, the director directly owned 47,666 shares of the company’s stock, valued at approximately $714,990. This trade represents a 521.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert Joseph Ball acquired 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $15.49 per share, with a total value of $92,940.00. Following the completion of the purchase, the chief executive officer directly owned 111,259 shares in the company, valued at $1,723,401.91. This represents a 5.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 787,982 shares of company stock worth $11,823,542. Corporate insiders own 1.71% of the company’s stock.

Shoulder Innovations Company Profile

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.