Shoulder Innovations (NYSE:SI) Now Covered by Analysts at Piper Sandler

Key Points

• Piper Sandler has initiated coverage on Shoulder Innovations (NYSE:SI) with an "overweight" rating and a price target of $18.00, suggesting a potential upside of 42.52% from its current stock price.
• Other research firms have also rated Shoulder Innovations positively, with Goldman Sachs and Jefferies Financial Group setting buy ratings and price targets of $20.00 and $19.00, respectively, contributing to an average consensus price target of $20.00.
• Insider trading activity has been notable, with directors from the company acquiring significant shares, signaling strong confidence in the company’s future performance.

Piper Sandler started coverage on shares of Shoulder Innovations (NYSE:SI - Free Report) in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $18.00 target price on the stock.

Several other equities research analysts have also recently commented 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 shares of Shoulder Innovations in a research report on Monday, August 25th. They issued a "buy" rating and a $19.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They issued a "buy" rating and a $20.00 target price for the company. Five equities research 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.60.

Shoulder Innovations Price Performance

Shares of SI traded up $0.11 during midday trading on Monday, hitting $14.92. The stock had a trading volume of 91,140 shares, compared to its average volume of 194,790. The company has a market capitalization of $227.23 million and a price-to-earnings ratio of -0.50. Shoulder Innovations has a twelve month low of $11.75 and a twelve month high of $17.94.

Insider Buying and Selling at Shoulder Innovations

In related news, major shareholder Lsv Associates Ii, Llc bought 266,666 shares of the business's stock in a transaction dated 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 purchase, the insider owned 1,885,136 shares in the company, valued at $28,277,040. This represents a 16.48% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey B. Pardo bought 100,000 shares of Shoulder Innovations stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $1,500,000.00. Following the acquisition, the director directly owned 2,380,482 shares in the company, valued at $35,707,230. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 778,382 shares of company stock worth $11,675,730. 1.71% of the stock is currently owned by corporate insiders.

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.