Shoulder Innovations, Inc. (NYSE:SI) Stock Has Average Target Price of $25.50

Key Points

• Analysts maintain a moderately bullish view: Six firms give Shoulder Innovations a consensus “Moderate Buy” rating, with five buys and one sell. The average 12-month price target is $25.50, above the reported share price of $18.94.
• Recent earnings fell short of expectations: The company reported quarterly revenue of $17.18 million and an adjusted loss of $0.49 per share, missing the $0.46-per-share consensus estimate. Analysts expect a full-year loss of approximately $1.90 per share.
• Insiders have been selling shares while institutions add exposure: Insiders sold 227,243 shares worth about $5.1 million over the last quarter, while several hedge funds and financial institutions increased or initiated positions in the stock.

Shares of Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.50.

Several brokerages have commented on SI. UBS Group lifted their price objective 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. Piper Sandler reissued 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. BTIG Research lifted their price target on shares of Shoulder Innovations from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded Shoulder Innovations from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, August 3rd.

Shoulder Innovations Price Performance

Shares of NYSE SI opened at $18.94 on Wednesday. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $24.59. The company has a market cap of $394.31 million, a PE ratio of -9.86 and a beta of -1.77. 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 business has a 50-day simple moving average of $20.34 and a two-hundred day simple moving average of $17.71.

Shoulder Innovations (NYSE:SI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share (EPS) 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%. As a group, equities analysts expect that Shoulder Innovations will post -1.9 EPS for the current fiscal year.

Insider Activity at Shoulder Innovations

In related news, CEO Robert Ball sold 10,175 shares of the firm's stock in a transaction dated 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 trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Healthcare Holding B.V. Gilde sold 1,196 shares of Shoulder Innovations stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $22.60, for a total transaction of $27,029.60. Following the sale, the insider owned 2,185,914 shares of the company's stock, valued at approximately $49,401,656.40. This represents a 0.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 227,243 shares of company stock valued at $5,092,575. 29.00% of the stock is owned by company insiders.

Institutional Trading of Shoulder Innovations

Several hedge funds have recently made changes to their positions in SI. Roubaix Capital LLC grew its holdings in shares of Shoulder Innovations by 61.9% during the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company's stock valued at $3,736,000 after acquiring an additional 98,305 shares in the last quarter. Royal Bank of Canada lifted its stake 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 valued at $783,000 after purchasing an additional 53,129 shares during the last quarter. Squarepoint Ops LLC bought a new position in Shoulder Innovations during the second quarter valued at about $896,000. KCM Capital Inc acquired a new position in shares of Shoulder Innovations during the 1st quarter valued at about $509,000. Finally, Bank of New York Mellon Corp bought a new stake in Shoulder Innovations during the first quarter worth approximately $252,000.

About Shoulder Innovations

Shoulder Innovations, Inc is a medical device company focused on developing and commercializing orthopedic products for shoulder replacement surgery. The company's business centers on technologies intended to address conditions such as shoulder arthritis, rotator cuff damage and other causes of shoulder pain and limited mobility.

Its product portfolio includes shoulder arthroplasty systems and related implants, including the InSet glenoid technology and humeral components for anatomic and reverse shoulder replacement procedures.

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