Shoulder Innovations, Inc. (NYSE:SI) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Shoulder Innovations has a “Moderate Buy” consensus rating: Five of six covering analysts recommend buying the stock, while one rates it a sell. The average 12-month price target is $25.50, above the reported $20.33 share price.
• Analysts recently raised their targets: UBS, Piper Sandler, and BTIG Research increased their price objectives to $28, $25, and $26, respectively.
• The company remains unprofitable and insiders have been selling: Shoulder Innovations missed its latest quarterly EPS estimate, reporting a $0.49 loss per share versus the expected $0.46 loss. Insiders sold $5.3 million worth of shares over the past three months, though insiders still own 29% of the company.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $25.50.

Several equities research analysts have issued reports on the company. UBS Group raised 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. Piper Sandler reiterated an "overweight" rating and issued a $25.00 price target (up from $19.00) on shares of Shoulder Innovations in a research report on Friday, August 7th. BTIG Research upped their price objective on shares of Shoulder Innovations from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised Shoulder Innovations from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, August 3rd.

Insider Buying and Selling

In related news, COO Matthew Fraser Ahearn sold 14,186 shares of Shoulder Innovations stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.99, for a total transaction of $297,764.14. Following the completion of the transaction, the chief operating officer owned 244,176 shares of the company's stock, valued at $5,125,254.24. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a 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 1,196 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $22.60, for a total value of $27,029.60. Following the completion of the transaction, the insider directly owned 2,185,914 shares in the company, valued at $49,401,656.40. This represents a 0.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 237,068 shares of company stock worth $5,279,109 over the last three months. Insiders own 29.00% of the company's stock.

Hedge Funds Weigh In On Shoulder Innovations

Large investors have recently bought and sold shares of the stock. Sectoral Asset Management Inc. raised its stake in shares of Shoulder Innovations by 14.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company's stock worth $7,042,000 after purchasing an additional 62,153 shares during the period. Deerfield Management Company L.P. purchased a new stake in Shoulder Innovations during the third quarter worth about $6,056,000. Alyeska Investment Group L.P. purchased a new stake in Shoulder Innovations during the third quarter worth about $5,667,000. Roubaix Capital LLC raised its position in Shoulder Innovations by 61.9% in the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company's stock worth $3,736,000 after acquiring an additional 98,305 shares during the period. Finally, Vanguard Group Inc. purchased a new position in Shoulder Innovations in the third quarter valued at about $1,836,000.

Shoulder Innovations Stock Down 0.3%

Shares of Shoulder Innovations stock opened at $20.33 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 10.71 and a quick ratio of 8.92. The company has a market capitalization of $423.25 million, a P/E ratio of -10.59 and a beta of -1.77. The business has a 50-day moving average of $21.33 and a two-hundred day moving average of $17.09. Shoulder Innovations has a 1 year low of $10.92 and a 1 year high of $24.59.

Shoulder Innovations (NYSE:SI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.03). Shoulder Innovations had a negative net margin of 58.33% and a negative return on equity of 23.61%. The firm had revenue of $17.18 million during the quarter. As a group, equities analysts predict that Shoulder Innovations will post -1.9 EPS for the current year.

Shoulder Innovations Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source