Shoulder Innovations (NYSE:SI) Given Buy Rating at 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 reiterated by stock analysts at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $23.00 price objective on the stock. BTIG Research's price target would suggest a potential upside of 46.31% from the stock's current price.

A number of other equities research analysts have also weighed in on the company. The Goldman Sachs Group started coverage on Shoulder Innovations in a research report on Monday, August 25th. They issued a "buy" rating and a $20.00 price objective on the stock. Piper Sandler initiated coverage on Shoulder Innovations in a research note on Monday, August 25th. They set an "overweight" rating and a $18.00 price objective for the company. Jefferies Financial Group initiated coverage on Shoulder Innovations in a research note on Monday, August 25th. They issued a "buy" rating and a $19.00 price target for the company. Wall Street Zen lowered Shoulder Innovations from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, Zacks Research raised Shoulder Innovations to a "hold" rating in a report on Tuesday, August 26th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.60.

Shoulder Innovations Trading Up 4.8%

Shares of NYSE SI traded up $0.72 during trading hours on Tuesday, reaching $15.72. 143,494 shares of the stock traded hands, compared to its average volume of 143,670. The stock has a market cap of $239.42 million and a price-to-earnings ratio of -0.52. Shoulder Innovations has a 52-week low of $11.75 and a 52-week high of $17.94.

Insider Activity

In related news, major shareholder Healthcare Holding B.V. Gilde bought 100,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $15.00 per share, with a total value 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. The trade was a 4.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Geoffrey B. Pardo acquired 100,000 shares of the stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $1,500,000.00. Following the transaction, the director directly owned 2,380,482 shares in the company, valued at approximately $35,707,230. This represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 778,382 shares of company stock valued at $11,675,730. 1.71% of the stock is currently owned by corporate insiders.

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.