Shoulder Innovations (NYSE:SI) Research Coverage Started at UBS Group

UBS Group began coverage on shares of Shoulder Innovations (NYSE:SI) in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $27.00 target price on the stock.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shoulder Innovations in a report on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoulder Innovations Stock Performance

Shares of NYSE:SI opened at $23.19 on Tuesday. The firm’s 50 day simple moving average is $19.03 and its 200 day simple moving average is $15.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.81 and a quick ratio of 10.04. The company has a market capitalization of $481.04 million and a price-to-earnings ratio of -0.14. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $24.59.

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

Insider Transactions at Shoulder Innovations

In other Shoulder Innovations news, COO Matthew Fraser Ahearn sold 4,144 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $18.84, for a total value of $78,072.96. Following the completion of the sale, the chief operating officer owned 269,176 shares in the company, valued at $5,071,275.84. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 29.00% of the company’s stock.

Institutional Trading of Shoulder Innovations

Hedge funds have recently made changes to their positions in the business. Sectoral Asset Management Inc. raised its stake in 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 acquiring an additional 62,153 shares during the period. Deerfield Management Company L.P. bought a new position in Shoulder Innovations during the third quarter worth $6,056,000. Alyeska Investment Group L.P. acquired a new position in shares of Shoulder Innovations in the third quarter valued at $5,667,000. Roubaix Capital LLC lifted its stake in shares of Shoulder Innovations by 61.9% during the 1st quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after buying an additional 98,305 shares during the last quarter. Finally, Vanguard Group Inc. bought a new stake in shares of Shoulder Innovations during the 3rd quarter worth about $1,836,000.

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.