Shoulder Innovations, Inc. (NYSE:SI) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Shoulder Innovations, Inc. (NYSE:SI) has been given an average rating of “Moderate Buy” by analysts, with one hold and five buy ratings among the six research firms covering the stock.
• Major shareholder Lsv Associates Ii, Llc increased their stake by purchasing 266,666 shares at $15.00 each, bringing their total holdings to approximately $28.3 million.
• As of the latest update, Shoulder Innovations' stock opened at $12.41 with a market capitalization of $252.57 million, and a fifty-two week range of $11.51 to $17.94.

Shares of Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $19.60.

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Shoulder Innovations from a "sell" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They issued a "buy" rating and a $20.00 target price for the company. BTIG Research reissued a "buy" rating and issued a $23.00 target price on shares of Shoulder Innovations in a report on Tuesday, September 9th. Morgan Stanley initiated coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They issued an "overweight" rating and a $18.00 price objective for the company. Finally, Zacks Research raised shares of Shoulder Innovations to a "hold" rating in a research note on Tuesday, August 26th.

Insider Buying and Selling

In related news, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $3,999,990.00. Following the completion of the transaction, the insider owned 1,885,136 shares in the company, valued at approximately $28,277,040. The trade was a 16.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Geoffrey B. Pardo bought 100,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $15.00 per share, with a total value of $1,500,000.00. Following the acquisition, the director owned 2,380,482 shares in the company, valued at approximately $35,707,230. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 787,982 shares of company stock valued at $11,823,542 in the last quarter.

Shoulder Innovations Stock Up 2.0%

SI opened at $12.41 on Wednesday. The stock has a market capitalization of $252.57 million and a PE ratio of -0.41. The company's fifty day moving average is $13.68. Shoulder Innovations has a fifty-two week low of $11.51 and a fifty-two week high of $17.94.

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.

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