UBS Group Begins Coverage on Shoulder Innovations (NYSE:SI)

Key Points

• UBS Group initiated coverage of Shoulder Innovations with a “buy” rating and a $27 price target, implying approximately 28.6% upside from the prior close.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy, one Hold and one Sell, resulting in a consensus “Moderate Buy” rating and a $22 average price target.
• Shoulder Innovations reported quarterly revenue of $16.71 million and an EPS loss of $0.41, beating the consensus loss estimate of $0.44; however, the company remains unprofitable, with analysts forecasting a full-year EPS loss of $1.67.

Equities researchers at UBS Group initiated coverage on shares of Shoulder Innovations (NYSE:SI - Get Free Report) in a report released on Tuesday. The firm set a "buy" rating and a $27.00 price target on the stock. UBS Group's price target would suggest a potential upside of 28.64% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Shoulder Innovations in a report on Monday, June 29th. Piper Sandler reissued an "overweight" rating and issued a $19.00 price target (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Shoulder Innovations has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Shoulder Innovations Trading Up 2.8%

NYSE SI opened at $20.99 on Tuesday. The firm has a market cap of $435.31 million and a PE ratio of -0.13. Shoulder Innovations has a 1-year low of $10.92 and a 1-year high of $23.00. The stock has a 50-day moving average of $18.50 and a 200-day moving average of $15.55. The company has a current ratio of 11.81, a quick ratio of 10.04 and a debt-to-equity ratio of 0.11.

Shoulder Innovations (NYSE:SI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. Shoulder Innovations had a negative return on equity of 35.11% and a negative net margin of 81.78%.The business had revenue of $16.71 million for the quarter. As a group, sell-side analysts forecast that Shoulder Innovations will post -1.67 EPS for the current year.

Insiders Place Their Bets

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 4,144 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $18.84, for a total transaction of $78,072.96. Following the transaction, the chief operating officer directly owned 269,176 shares of the company's stock, valued at approximately $5,071,275.84. The trade was a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shoulder Innovations

A number of institutional investors have recently bought and sold shares of SI. Roubaix Capital LLC boosted its position in Shoulder Innovations by 61.9% during the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company's stock valued at $3,736,000 after acquiring an additional 98,305 shares in the last quarter. Sectoral Asset Management Inc. lifted its stake in shares of Shoulder Innovations by 14.4% in the 4th quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company's stock valued at $7,042,000 after purchasing an additional 62,153 shares during the period. KCM Capital Inc bought a new stake in shares of Shoulder Innovations during the first quarter valued at approximately $509,000. CM Management LLC purchased a new stake in Shoulder Innovations in the fourth quarter worth $358,000. Finally, Blue Trust Inc. bought a new position in Shoulder Innovations in the first quarter worth $228,000.

About Shoulder Innovations

Shoulder Innovations NYSE: SI is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.