Jefferies Financial Group Begins 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.

Jefferies Financial Group began coverage on shares of Shoulder Innovations (NYSE:SI - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The brokerage set a "buy" rating and a $19.00 price target on the stock. Jefferies Financial Group's target price would suggest a potential upside of 50.44% from the stock's current price.

Separately, Wall Street Zen raised shares of Shoulder Innovations to a "hold" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $19.00.

Shoulder Innovations Stock Up 3.5%

Shares of Shoulder Innovations stock opened at $12.63 on Monday. The company has a market capitalization of $192.35 million and a P/E ratio of -0.42. Shoulder Innovations has a 52 week low of $11.75 and a 52 week high of $17.94.

Insider Buying and Selling

In other Shoulder Innovations news, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of $15.00 per share, for a total transaction of $3,999,990.00. Following the acquisition, the insider 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Healthcare Holding B.V. Gilde purchased 100,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $1,500,000.00. Following the acquisition, the insider owned 2,380,482 shares in the company, valued at $35,707,230. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 778,382 shares of company stock worth $11,675,730 in the last quarter.

About Shoulder Innovations

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.

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