Wright Medical Group (WMGI) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of Wright Medical Group (NASDAQ:WMGI) from a sell rating to a strong sell rating in a research note released on Wednesday morning.

Several other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Wright Medical Group from a hold rating to a sell rating in a report on Friday, February 2nd. Cantor Fitzgerald set a $30.00 price target on shares of Wright Medical Group and gave the stock a buy rating in a report on Monday, January 8th. TheStreet downgraded shares of Wright Medical Group from a c- rating to a d+ rating in a report on Wednesday, December 27th. Jefferies Group reiterated a buy rating on shares of Wright Medical Group in a report on Friday, November 3rd. Finally, Royal Bank of Canada reiterated a buy rating and set a $30.00 price target on shares of Wright Medical Group in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $31.89.

Wright Medical Group (NASDAQ WMGI) opened at $20.09 on Wednesday. The stock has a market cap of $1,030.00, a price-to-earnings ratio of -4.24, a PEG ratio of 153.72 and a beta of 0.59. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.31. Wright Medical Group has a 1-year low of $19.04 and a 1-year high of $31.53.

Several institutional investors have recently modified their holdings of the stock. Endurant Capital Management LP grew its stake in shares of Wright Medical Group by 670.7% in the fourth quarter. Endurant Capital Management LP now owns 305,200 shares of the medical device company’s stock worth $6,775,000 after purchasing an additional 265,600 shares during the last quarter. Iguana Healthcare Management LLC bought a new stake in shares of Wright Medical Group in the fourth quarter worth $444,000. Palo Alto Investors LLC grew its stake in shares of Wright Medical Group by 2.2% in the fourth quarter. Palo Alto Investors LLC now owns 2,736,293 shares of the medical device company’s stock worth $60,746,000 after purchasing an additional 59,900 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Wright Medical Group in the fourth quarter worth $19,086,000. Finally, Macquarie Group Ltd. grew its stake in shares of Wright Medical Group by 11.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,545,448 shares of the medical device company’s stock worth $34,309,000 after purchasing an additional 156,093 shares during the last quarter.

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About Wright Medical Group

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.

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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