Analysts Set Shoulder Innovations, Inc. (NYSE:SI) Target Price at $19.60

Key Points

• Shoulder Innovations, Inc. has received a consensus rating of "Moderate Buy" from six analysts, with an average 12-month price target of $19.60.
• Recent insider transactions include a major shareholder acquiring 100,000 shares at an average price of $15.00 per share, increasing their ownership stake in the company.
• The company's stock has fluctuated between a 12-month low of $11.75 and a high of $17.94, opening at $14.76 on the last trading day.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.60.

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Shoulder Innovations to a "hold" rating in a research note on Tuesday, August 26th. Wall Street Zen raised shares of Shoulder Innovations from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Jefferies Financial Group started coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They issued a "buy" rating and a $19.00 target price on the stock. BTIG Research reaffirmed a "buy" rating and set a $23.00 target price on shares of Shoulder Innovations in a report on Tuesday, September 9th. Finally, Morgan Stanley began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set an "overweight" rating and a $18.00 price objective for the company.

Shoulder Innovations Price Performance

Shares of SI stock traded up $0.12 on Friday, reaching $14.76. 845,144 shares of the company were exchanged, compared to its average volume of 157,488. The stock has a market capitalization of $300.51 million and a PE ratio of -0.49. Shoulder Innovations has a one year low of $11.75 and a one year high of $17.94.

Insider Buying and Selling at Shoulder Innovations

In other Shoulder Innovations news, Director Michael A. Carusi purchased 266,666 shares of the stock in a transaction 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 acquisition, the director directly owned 1,885,136 shares of the company's stock, valued at $28,277,040. This represents a 16.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeffrey S. Points purchased 1,600 shares of Shoulder Innovations stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $15.67 per share, for a total transaction of $25,072.00. Following the completion of the transaction, the chief financial officer directly owned 52,445 shares in the company, valued at $821,813.15. This represents a 3.15% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 787,982 shares of company stock valued at $11,823,542. Corporate insiders own 1.71% of the company's stock.

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.