Shoulder Innovations (NYSE:SI) Rating Lowered to Sell at Wall Street Zen

by · The Markets Daily

Shoulder Innovations (NYSE:SI – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently weighed in on SI. BTIG Research initiated coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set a “buy” rating and a $23.00 price objective for the company. Piper Sandler initiated coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set an “overweight” rating and a $18.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set a “buy” rating and a $20.00 price objective for the company. Zacks Research raised shares of Shoulder Innovations to a “hold” rating in a research note on Tuesday, August 26th. Finally, Morgan Stanley initiated coverage on shares of Shoulder Innovations in a research note on Monday, August 25th. They set an “overweight” rating and a $18.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

Read Our Latest Stock Analysis on Shoulder Innovations

Shoulder Innovations Price Performance

Shares of Shoulder Innovations stock opened at $14.92 on Friday. Shoulder Innovations has a 12-month low of $11.75 and a 12-month high of $17.94. The stock has a market capitalization of $227.23 million and a price-to-earnings ratio of -0.50.

Insider Activity

In other news, major shareholder Healthcare Holding B.V. Gilde bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider owned 2,380,482 shares in the company, valued at $35,707,230. The trade was a 4.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lsv Associates Ii, Llc bought 266,666 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $3,999,990.00. Following the transaction, the insider owned 1,885,136 shares of the company’s stock, valued at $28,277,040. The trade was a 16.48% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 778,382 shares of company stock valued at $11,675,730 in the last 90 days.

About Shoulder Innovations

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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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