Shoulder Innovations (NYSE:SI) Earns Buy Rating from Analysts at BTIG Research

Key Points

• BTIG Research has initiated coverage on Shoulder Innovations (NYSE:SI) with a "buy" rating and a price target of $23.00, suggesting an 82.11% potential upside from the current price.
• Multiple analysts, including Goldman Sachs and Jefferies, have also issued "buy" ratings with price targets ranging from $19.00 to $20.00, reflecting positive market sentiment.
• Insider trading actions show significant investments in Shoulder Innovations, with major shareholders buying nearly 778,382 shares in the last three months, indicating strong confidence in the company's future.

Stock analysts at BTIG Research initiated coverage on shares of Shoulder Innovations (NYSE:SI - Get Free Report) in a report issued on Monday, Marketbeat reports. The brokerage set a "buy" rating and a $23.00 price target on the stock. BTIG Research's price target suggests a potential upside of 54.16% from the company's previous close.

Several other equities analysts also recently commented on SI. Wall Street Zen upgraded Shoulder Innovations to a "hold" rating in a research report on Saturday, August 16th. Jefferies Financial Group initiated coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They issued a "buy" rating and a $19.00 price objective for the company. Piper Sandler initiated coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set an "overweight" rating and a $18.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set a "buy" rating and a $20.00 price target for the company. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.60.

Shoulder Innovations Stock Performance

Shares of NYSE:SI traded up $0.11 during 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 company has a market capitalization of $227.23 million and a PE ratio of -0.50.

Insider Buying and Selling at Shoulder Innovations

In related news, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of Shoulder Innovations stock in a transaction on Friday, August 1st. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $3,999,990.00. Following the completion of the acquisition, the insider owned 1,885,136 shares of the company's stock, valued at $28,277,040. This trade represents a 16.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Healthcare Holding B.V. Gilde acquired 100,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $15.00 per share, for a total transaction of $1,500,000.00. Following the acquisition, the insider directly owned 2,380,482 shares of the company's stock, 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 purchased 778,382 shares of company stock valued at $11,675,730 over the last 90 days. 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.