Shoulder Innovations (NYSE:SI) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Shoulder Innovations has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the company's stock.
• Analysts from various firms have issued ratings ranging from "buy" to "overweight," with price targets averaging around $19.60.
• Insider trading activity shows significant purchases, including a major shareholder buying 266,666 shares and a director acquiring 100,000 shares, reflecting confidence in the company's future.

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

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

Shoulder Innovations Stock Up 4.8%

Shares of SI opened at $15.72 on Friday. Shoulder Innovations has a one year low of $11.75 and a one year high of $17.94. The stock has a market cap of $239.42 million and a price-to-earnings ratio of -0.52.

Insider Buying and Selling

In other Shoulder Innovations news, major shareholder Lsv Associates Ii, Llc purchased 266,666 shares of Shoulder Innovations stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $15.00 per share, with a total value of $3,999,990.00. Following the acquisition, the insider owned 1,885,136 shares of the company's stock, valued at $28,277,040. This trade represents a 16.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey B. Pardo purchased 100,000 shares of Shoulder Innovations stock in a transaction that occurred on 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 acquisition, the director directly owned 2,380,482 shares in the company, valued at $35,707,230. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 778,382 shares of company stock worth $11,675,730 in the last ninety days. 1.71% of the stock is 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.

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