Needham & Company LLC Downgrades Wright Medical Group N.V. (WMGI) to Hold

Wright Medical Group N.V. (NASDAQ:WMGI) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other equities analysts have also recently issued research reports about the company. Barclays PLC reissued a “buy” rating and set a $33.00 price target on shares of Wright Medical Group N.V. in a report on Thursday, November 3rd. Guggenheim cut Wright Medical Group N.V. from a “buy” rating to a “neutral” rating in a report on Tuesday, January 3rd. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $25.00 target price (down previously from $27.00) on shares of Wright Medical Group N.V. in a report on Thursday, November 3rd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $25.58.

Analyst Recommendations for Wright Medical Group N.V. (NASDAQ:WMGI)

Wright Medical Group N.V. (NASDAQ:WMGI) opened at 26.62 on Wednesday. Wright Medical Group N.V. has a 12-month low of $15.10 and a 12-month high of $26.71. The stock’s 50 day moving average price is $24.87 and its 200 day moving average price is $23.92. The company’s market cap is $2.74 billion.

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In other Wright Medical Group N.V. news, Director Sean Carney sold 54,748 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $22.82, for a total value of $1,249,349.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth H. Weatherman sold 44,012 shares of the stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $23.80, for a total value of $1,047,485.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,760 shares of company stock worth $2,760,335. 9.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Peregrine Capital Management LLC purchased a new position in shares of Wright Medical Group N.V. during the third quarter valued at about $21,380,000. Teachers Advisors LLC raised its position in shares of Wright Medical Group N.V. by 3.4% in the third quarter. Teachers Advisors LLC now owns 655,752 shares of the medical device company’s stock valued at $16,086,000 after buying an additional 21,828 shares during the last quarter. Rhumbline Advisers raised its position in shares of Wright Medical Group N.V. by 2.3% in the third quarter. Rhumbline Advisers now owns 128,220 shares of the medical device company’s stock valued at $3,145,000 after buying an additional 2,925 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Wright Medical Group N.V. by 105.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,074,132 shares of the medical device company’s stock valued at $26,348,000 after buying an additional 550,990 shares during the last quarter. Finally, Elk Creek Partners LLC raised its position in shares of Wright Medical Group N.V. by 23.7% in the second quarter. Elk Creek Partners LLC now owns 1,183,763 shares of the medical device company’s stock valued at $20,562,000 after buying an additional 226,725 shares during the last quarter.

About Wright Medical Group N.V.

Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.

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