Piper Sandler Starts Shoulder Innovations (SI) at Overweight

Piper Sandler analyst Matt O\'Brien initiates coverage on Shoulder Innovations (NYSE: SI) with a Overweight rating and a price target of $18.00.

The analyst comments: "SI competes in the ~$2B shoulder replacement market providing unique anatomic and reverse total shoulder arthroplasty (TSA) implants that provide better clinical outcomes for patients, operating with a less capital-intensive business model relative to peers. We expect this differentiated offering could drive above-market revenue growth and enable further share capture in the years to come, with the potential for profitability sooner than many other ortho players. We believe the extra capital from the IPO will be used to expand the company’s sales force (~double over next few years) further compelling surgeon adoption and fueling top-line growth. Overall, we believe SI will grow north of 30% over the coming years due to its unique product profile, and we expect this performance could push share prices higher."

For an analyst ratings summary and ratings history on Shoulder Innovations click here. For more ratings news on Shoulder Innovations click here.

Shares of Shoulder Innovations closed at $12.71 yesterday.

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