Shoulder Innovations (NYSE:SI) Stock Price Expected to Rise, BTIG Research Analyst Says

Shoulder Innovations (NYSE:SI – Get Free Report) had its target price upped by investment analysts at BTIG Research from $26.00 to $27.00 in a note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 49.87% from the company’s current price.

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

View Our Latest Stock Report on Shoulder Innovations

Shoulder Innovations Stock Performance

NYSE SI opened at $18.02 on Monday. 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. The company has a 50-day moving average price of $19.66 and a two-hundred day moving average price of $17.98.

Shoulder Innovations (NYSE:SI – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.03). The firm had revenue of $17.18 million during the quarter. Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. Sell-side analysts expect that Shoulder Innovations will post -1.90 EPS for the current fiscal year.

Insider Activity at Shoulder Innovations

In other news, COO Matthew Fraser Ahearn sold 14,186 shares of the company’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 completion of the sale, the chief operating officer directly owned 244,176 shares of the company’s stock, valued at approximately $5,125,254.24. This represents a 5.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert Ball sold 10,175 shares of the company’s stock in a transaction that occurred 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 approximately $7,026,202.80. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 227,243 shares of company stock worth $5,092,575 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Shoulder Innovations

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new position in shares of Shoulder Innovations during the 2nd quarter valued at $30,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Shoulder Innovations in the second quarter valued at $35,000. Blue Trust Inc. acquired a new stake in shares of Shoulder Innovations in the first quarter valued at $228,000. Bank of New York Mellon Corp acquired a new stake in shares of Shoulder Innovations in the first quarter valued at $252,000. Finally, Bank of America Corp DE boosted 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 valued at $392,000 after buying an additional 8,205 shares in the last quarter.

About Shoulder Innovations

(Get Free Report)

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.

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Analyst Recommendations for Shoulder Innovations (NYSE:SI)

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