Jefferies Financial Group Initiates Coverage on Shoulder Innovations (NYSE:SI)

Key Points

• Jefferies Financial Group initiated coverage on Shoulder Innovations, assigning a "buy" rating and a price target of $19.00, indicating a potential upside of 50.44% from its current stock price.
• Shoulder Innovations' stock saw an increase of 3.5%, with current trading around $12.63 and a market capitalization of $192.35 million.
• Major shareholders have increased their stakes significantly, with Lsv Associates II purchasing 266,666 shares and Healthcare Holding B.V. Gilde acquiring 100,000 shares, both at an average price of $15.00 per share.

Equities researchers at Jefferies Financial Group began coverage on shares of Shoulder Innovations (NYSE:SI - Get Free Report) in a report released on Monday, Marketbeat reports. The firm set a "buy" rating and a $19.00 price target on the stock. Jefferies Financial Group's price objective indicates a potential upside of 27.35% from the company's previous close.

Separately, Wall Street Zen upgraded Shoulder Innovations to a "hold" rating in a research note on Saturday, August 16th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.60.

Shoulder Innovations Stock Up 0.7%

Shares of SI traded up $0.11 on Monday, reaching $14.92. The stock had a trading volume of 91,140 shares, compared to its average volume of 194,790. The stock has a market cap of $227.23 million and a PE ratio of -0.50. Shoulder Innovations has a 12-month low of $11.75 and a 12-month high of $17.94.

Insider Buying and Selling

In related news, Director Casey M. Tansey acquired 40,000 shares of Shoulder Innovations stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $15.00 per share, with a total value of $600,000.00. Following the transaction, the director directly owned 47,666 shares in the company, valued at approximately $714,990. This represents a 521.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Carusi acquired 266,666 shares of Shoulder Innovations stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $3,999,990.00. Following the transaction, the director owned 1,885,136 shares in the company, valued at $28,277,040. This represents a 16.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 778,382 shares of company stock worth $11,675,730 over the last quarter. Company 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.