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

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 earned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $19.60.

Several research firms recently weighed in on SI. Morgan Stanley started coverage on Shoulder Innovations in a report on Monday, August 25th. They issued an "overweight" rating and a $18.00 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 research note on Tuesday, September 9th. Jefferies Financial Group assumed coverage on Shoulder Innovations in a research note on Monday, August 25th. They issued a "buy" rating and a $19.00 price target for the company. Piper Sandler assumed coverage on Shoulder Innovations in a report on Monday, August 25th. They set an "overweight" rating and a $18.00 price target for the company. Finally, Wall Street Zen raised Shoulder Innovations from a "sell" rating to a "hold" rating in a report on Saturday, September 13th.

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, Director Michael A. Carusi bought 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 transaction, the director directly owned 1,885,136 shares in the company, valued at approximately $28,277,040. This trade represents a 16.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey S. Points purchased 1,600 shares of the business's stock in a transaction on Friday, September 12th. The stock was purchased at an average price of $15.67 per share, for a total transaction of $25,072.00. Following the acquisition, the chief financial officer owned 52,445 shares of the company's stock, valued at approximately $821,813.15. This represents a 3.15% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 787,982 shares of company stock worth $11,823,542 over the last quarter.

Shoulder Innovations Trading Up 0.1%

SI traded up $0.02 during trading on Friday, reaching $14.10. The company had a trading volume of 31,728 shares, compared to its average volume of 186,019. The stock has a market capitalization of $287.08 million and a P/E ratio of -0.47. Shoulder Innovations has a 12-month low of $11.75 and a 12-month high of $17.94.

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.