BTIG Research Forecasts Strong Price Appreciation for Shoulder Innovations (NYSE:SI) Stock

Key Points

• BTIG Research raised its price target for Shoulder Innovations to $27 from $26 and maintained a “buy” rating, implying 48.73% upside from the prior close.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average target of $25.75.
• Shoulder Innovations reported a quarterly EPS loss of $0.49, missing estimates by $0.03, while insiders sold shares worth approximately $5.1 million over the past three months.

Shoulder Innovations (NYSE:SI - Get Free Report) had its price objective increased by investment analysts at BTIG Research from $26.00 to $27.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 48.73% from the company's previous close.

Several other analysts also recently weighed in on SI. UBS Group lifted their price target on shares of Shoulder Innovations from $27.00 to $28.00 and gave the company a "buy" rating in a research note 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 restated an "overweight" rating and set a $25.00 price objective (up from $19.00) on shares of Shoulder Innovations in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Shoulder Innovations has a consensus rating of "Moderate Buy" and an average price target of $25.75.

Shoulder Innovations Trading Up 0.1%

NYSE SI opened at $18.15 on Monday. The stock has a market cap of $377.95 million, a PE ratio of -9.46 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's 50-day moving average price is $19.84 and its 200-day moving average price is $17.93. The company has a current ratio of 10.71, a quick ratio of 8.92 and a debt-to-equity ratio of 0.12.

Shoulder Innovations (NYSE:SI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). The company had revenue of $17.18 million for the quarter. Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. Equities research analysts forecast that Shoulder Innovations will post -1.90 earnings per share for the current year.

Insiders Place Their Bets

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 14,186 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total transaction of $297,764.14. Following the transaction, the chief operating officer directly owned 244,176 shares in the company, valued at $5,125,254.24. This represents a 5.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Healthcare Holding B.V. Gilde sold 99,812 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.77, for a total transaction of $2,272,719.24. Following the transaction, the insider directly owned 2,221,640 shares in the company, valued at $50,586,742.80. This trade represents a 4.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,243 shares of company stock worth $5,092,575 in the last three months. Corporate insiders own 29.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SI. Roubaix Capital LLC lifted its position in shares of Shoulder Innovations by 61.9% during the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company's stock valued at $3,736,000 after buying an additional 98,305 shares during the last quarter. Royal Bank of Canada grew its position 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 worth $783,000 after buying an additional 53,129 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Shoulder Innovations during the 2nd quarter worth approximately $896,000. KCM Capital Inc bought a new position in shares of Shoulder Innovations during the 1st quarter worth approximately $509,000. Finally, Bank of America Corp DE lifted its position 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 acquiring an additional 8,205 shares during the last quarter.

Shoulder Innovations Company Profile

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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