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

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.

Wall Street Zen upgraded shares of Shoulder Innovations (NYSE:SI - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts also recently commented on the stock. BTIG Research reissued a "buy" rating and issued a $23.00 target price on shares of Shoulder Innovations in a research note on Tuesday, September 9th. The Goldman Sachs Group began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set a "buy" rating and a $20.00 price target for the company. Jefferies Financial Group began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set a "buy" rating and a $19.00 price target for the company. Morgan Stanley began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set an "overweight" rating and a $18.00 price target for the company. Finally, Piper Sandler began coverage on shares of Shoulder Innovations in a report on Monday, August 25th. They set an "overweight" rating and a $18.00 price target for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

Shoulder Innovations Trading Down 0.7%

Shares of SI stock traded down $0.10 during mid-day trading on Friday, reaching $14.74. The company's stock had a trading volume of 144,286 shares, compared to its average volume of 151,884. 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 $224.48 million and a PE ratio of -0.49.

Insider Activity at Shoulder Innovations

In related news, Director Michael A. Carusi acquired 266,666 shares of the firm's stock in a transaction on Friday, August 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $3,999,990.00. Following the acquisition, the director directly owned 1,885,136 shares in the company, valued at approximately $28,277,040. The trade was a 16.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lsv Associates Ii, Llc acquired 266,666 shares of the firm's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $15.00 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 787,982 shares of company stock worth $11,823,542 over the last 90 days. Company insiders own 1.71% of the company's stock.

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.