Shoulder Innovations (NYSE:SI) Upgraded at Wall Street Zen

Key Points

• Shoulder Innovations has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen, indicating a shift in investor sentiment.
• Multiple analysts, including Piper Sandler and BTIG Research, have given buy ratings with target prices ranging from $18.00 to $23.00, contributing to a consensus price target of $19.60.
• Insider trading activity is notable, with CEO Robert Joseph Ball purchasing 6,000 shares recently, reflecting confidence in the company's future performance.

Shoulder Innovations (NYSE:SI - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Other research analysts also recently issued reports about the company. Piper Sandler initiated coverage on Shoulder Innovations in a research note on Monday, August 25th. They issued an "overweight" rating and a $18.00 price objective on the stock. BTIG Research reaffirmed a "buy" rating and issued a $23.00 target price on shares of Shoulder Innovations in a report on Tuesday, September 9th. Zacks Research raised Shoulder Innovations to a "hold" rating in a report on Tuesday, August 26th. The Goldman Sachs Group initiated coverage on Shoulder Innovations in a report on Monday, August 25th. They issued a "buy" rating and a $20.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Shoulder Innovations in a report on Monday, August 25th. They issued a "buy" rating and a $19.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.60.

Shoulder Innovations Price Performance

Shares of SI stock opened at $12.50 on Friday. The firm has a 50 day moving average of $13.76. Shoulder Innovations has a twelve month low of $11.51 and a twelve month high of $17.94. The company has a market cap of $254.50 million and a P/E ratio of -0.42.

Insider Buying and Selling at Shoulder Innovations

In other news, CEO Robert Joseph Ball acquired 6,000 shares of the stock in a transaction dated Friday, September 12th. The shares were acquired at an average cost of $15.49 per share, for a total transaction of $92,940.00. Following the completion of the transaction, the chief executive officer owned 111,259 shares in the company, valued at approximately $1,723,401.91. This trade represents a 5.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Casey M. Tansey acquired 40,000 shares of the stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $600,000.00. Following the completion of the transaction, the director owned 47,666 shares of the company's stock, valued at $714,990. This trade represents a 521.78% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 787,982 shares of company stock valued at $11,823,542 in the last quarter. 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.

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