Shoulder Innovations (NYSE:SI) Now Covered by Analysts at The Goldman Sachs Group

Key Points

• Goldman Sachs Group has initiated coverage on Shoulder Innovations (NYSE:SI) with a "buy" rating and a price target of $20.00, suggesting a potential upside of 58.35% from its previous close.
• Insider trading activity has increased significantly, with Director Casey M. Tansey purchasing 40,000 shares and Director Michael A. Carusi acquiring 266,666 shares, both at an average price of $15.00.
• The company's stock currently has an average rating of "Buy", with various analysts affirming positive outlooks for its performance.

Equities research analysts at The Goldman Sachs Group began coverage on shares of Shoulder Innovations (NYSE:SI - Get Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $20.00 price target on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 34.05% from the stock's previous close.

Several other research analysts have also issued reports on SI. Wall Street Zen upgraded Shoulder Innovations to a "hold" rating in a research note on Saturday, August 16th. 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 target price for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.60.

Shoulder Innovations Price Performance

Shoulder Innovations stock traded up $0.11 during mid-day trading on Monday, hitting $14.92. 91,140 shares of the company were exchanged, compared to its average volume of 194,790. Shoulder Innovations has a 1-year low of $11.75 and a 1-year high of $17.94. The firm has a market capitalization of $227.23 million and a P/E ratio of -0.50.

Insider Activity

In other Shoulder Innovations news, major shareholder Healthcare Holding B.V. Gilde bought 100,000 shares of the stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $1,500,000.00. Following the acquisition, the insider owned 2,380,482 shares of the company's stock, valued at approximately $35,707,230. The trade was a 4.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lsv Associates Ii, Llc bought 266,666 shares of the company's stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $3,999,990.00. Following the transaction, the insider directly 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 disclosure for this purchase can be found here. In the last three months, insiders purchased 778,382 shares of company stock worth $11,675,730. Corporate 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.