Shoulder Innovations (NYSE:SI) Earns Sell (E) Rating from Analysts at Weiss Ratings

Key Points

• Shoulder Innovations (NYSE:SI) received a sell (E) rating from analysts at Weiss Ratings, marking a notable divergence from other analysts who have assessed the stock positively.
• The company's stock currently has a consensus rating of "Moderate Buy" with a price target averaging $19.60, despite a recent buy rating and $23.00 price target set by BTIG Research.
• Insider trading activity has been significant, with Director Michael A. Carusi and major shareholder Healthcare Holding B.V. Gilde purchasing large amounts of stock, indicating confidence in the company.

Research analysts at Weiss Ratings initiated coverage on shares of Shoulder Innovations (NYSE:SI - Get Free Report) in a research note issued on Friday,Weiss Ratings reports. The brokerage set a "sell (e)" rating on the stock.

A number of other research analysts have also issued reports on the stock. BTIG Research restated a "buy" rating and set a $23.00 price target on shares of Shoulder Innovations in a research note on Tuesday, September 9th. Wall Street Zen upgraded shares of Shoulder Innovations from a "sell" rating to a "hold" rating in a research note on Saturday, October 11th. Zacks Research upgraded shares of Shoulder Innovations to a "hold" rating in a research note on Tuesday, August 26th. The Goldman Sachs Group initiated 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 on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set a "buy" rating and a $19.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

Shoulder Innovations Price Performance

Shares of Shoulder Innovations stock opened at $12.28 on Friday. Shoulder Innovations has a 12-month low of $11.51 and a 12-month high of $17.94. The firm has a market cap of $249.92 million and a price-to-earnings ratio of -0.41. The company's 50 day moving average is $13.61.

Insiders Place Their Bets

In other news, Director Michael A. Carusi purchased 266,666 shares of the company'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 completion of the transaction, the director owned 1,885,136 shares in the company, valued at $28,277,040. This represents a 16.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Healthcare Holding B.V. Gilde purchased 100,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $1,500,000.00. Following the transaction, the insider owned 2,380,482 shares of the company's stock, 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 three months, insiders bought 787,982 shares of company stock worth $11,823,542. Company 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.

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