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

Key Points

• Shoulder Innovations (NYSE:SI) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a negative outlook from analysts.
• The company has received multiple mixed ratings from various institutions, with five analysts issuing "buy" ratings and one holding a "hold" rating, resulting in a consensus rating of "Moderate Buy" and an average price target of $19.60.
• Recent insider transactions include major shareholder Lsv Associates II purchasing 266,666 shares at an average price of $15.00, indicating strong insider confidence in the stock despite the recent downgrade.

Wall Street Zen downgraded shares of Shoulder Innovations (NYSE:SI - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.

SI has been the subject of a number of other research reports. Morgan Stanley began coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set an "overweight" rating and a $18.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set a "buy" rating and a $19.00 price objective for the company. BTIG Research started coverage on Shoulder Innovations in a research report on Monday, August 25th. They set a "buy" rating and a $23.00 price objective for the company. Zacks Research upgraded Shoulder Innovations to a "hold" rating in a research report on Tuesday, August 26th. Finally, The Goldman Sachs Group began coverage on 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to 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 stock traded down $0.98 during mid-day trading on Friday, reaching $15.04. 67,211 shares of the company's stock traded hands, compared to its average volume of 179,085. Shoulder Innovations has a 12 month low of $11.75 and a 12 month high of $17.94. The company has a market cap of $229.06 million and a price-to-earnings ratio of -0.50.

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of Shoulder Innovations stock in a transaction dated Friday, August 1st. The shares were purchased 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 in the company, valued at $28,277,040. This represents a 16.48% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Casey M. Tansey acquired 40,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $600,000.00. Following the acquisition, the director owned 47,666 shares in the company, valued at $714,990. This trade represents a 521.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 778,382 shares of company stock worth $11,675,730 in the last three months.

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.