Shoulder Innovations (NYSE:SI) Receives "Buy" Rating from BTIG Research

Key Points

• Shoulder Innovations has received a "buy" rating from BTIG Research, with a target price of $23.00, indicating a potential upside of 51.52% from its previous close.
• Other research analysts have issued varying ratings, resulting in a consensus of a "Moderate Buy" with an average price target of $19.60.
• Major shareholders, including Lsv Associates and Director Michael A. Carusi, recently purchased large amounts of stock, increasing their positions by 16.48%.

Shoulder Innovations (NYSE:SI - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $23.00 target price on the stock. BTIG Research's price objective would indicate a potential upside of 51.52% from the company's previous close.

Several other equities research analysts also recently issued reports on the stock. Zacks Research raised shares of Shoulder Innovations to a "hold" rating in a research report on Tuesday, August 26th. Morgan Stanley initiated coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set an "overweight" rating and a $18.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set a "buy" rating and a $19.00 price objective for the company. Wall Street Zen downgraded shares of Shoulder Innovations from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Finally, Piper Sandler assumed coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set an "overweight" rating and a $18.00 price objective 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 MarketBeat, Shoulder Innovations has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

Shoulder Innovations Stock Performance

NYSE:SI traded down $0.72 during trading hours on Tuesday, hitting $15.18. The stock had a trading volume of 109,850 shares, compared to its average volume of 169,878. Shoulder Innovations has a one year low of $11.75 and a one year high of $17.94. The company has a market capitalization of $231.19 million and a PE ratio of -0.51.

Insider Transactions at Shoulder Innovations

In other news, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of the business's stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $3,999,990.00. Following the completion of the purchase, the insider directly owned 1,885,136 shares in the company, valued at $28,277,040. The trade was a 16.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Carusi purchased 266,666 shares of the business's stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $3,999,990.00. Following the purchase, the director 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 disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 778,382 shares of company stock valued at $11,675,730.

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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