Shoulder Innovations (NYSE:SI) Cut to Sell at Wall Street Zen

Key Points

• Shoulder Innovations has been dropped to a "sell" rating by Wall Street Zen, moving from a previous "hold" rating.
• Several analysts, including Jefferies Financial Group and Morgan Stanley, issued "buy" ratings with target prices ranging from $18.00 to $23.00, indicating a mix of sentiment towards the stock.
• Insider trading activity includes significant purchases, with Director Michael A. Carusi acquiring 266,666 shares, indicating confidence in the company’s future.

Shoulder Innovations (NYSE:SI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Several other equities analysts have also commented on the company. 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. Morgan Stanley started coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set an "overweight" rating and a $18.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set a "buy" rating and a $20.00 price objective on the stock. BTIG Research reissued a "buy" rating and issued a $23.00 target price on shares of Shoulder Innovations in a research report on Tuesday, September 9th. Finally, Piper Sandler started coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set an "overweight" rating and a $18.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.60.

Shoulder Innovations Stock Performance

Shares of NYSE SI opened at $12.15 on Friday. The stock's 50 day moving average price is $14.08. The firm has a market capitalization of $247.37 million and a price-to-earnings ratio of -0.41. Shoulder Innovations has a 1 year low of $11.75 and a 1 year high of $17.94.

Insider Activity

In other Shoulder Innovations news, Director Michael A. Carusi acquired 266,666 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 $3,999,990.00. Following the completion of the transaction, the director directly owned 1,885,136 shares of the company's stock, valued at approximately $28,277,040. The trade was a 16.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Healthcare Holding B.V. Gilde bought 100,000 shares of Shoulder Innovations stock in a transaction that occurred on Friday, August 1st. The shares were acquired 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 in the company, valued at approximately $35,707,230. This represents a 4.39% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 787,982 shares of company stock worth $11,823,542. 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.

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