Wright Medical Group (NASDAQ:WMGI) Upgraded at BidaskClub

Wright Medical Group (NASDAQ:WMGI) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday, January 9th.

A number of other brokerages have also weighed in on WMGI. Jefferies Group reissued a “buy” rating on shares of Wright Medical Group in a research report on Friday, November 3rd. TheStreet downgraded Wright Medical Group from a “c-” rating to a “d+” rating in a research note on Wednesday, December 27th. ValuEngine downgraded Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Royal Bank of Canada restated a “buy” rating and set a $30.00 price target on shares of Wright Medical Group in a research note on Thursday, November 2nd. Finally, BMO Capital Markets cut their price target on Wright Medical Group from $34.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Wright Medical Group has a consensus rating of “Buy” and a consensus target price of $31.89.

Shares of Wright Medical Group (WMGI) traded down $0.64 during trading on Tuesday, reaching $22.70. The company’s stock had a trading volume of 1,258,500 shares, compared to its average volume of 947,055. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.31 and a quick ratio of 0.96. The stock has a market capitalization of $2,466.51, a price-to-earnings ratio of -8.57, a P/E/G ratio of 484.99 and a beta of 0.60. Wright Medical Group has a fifty-two week low of $22.00 and a fifty-two week high of $31.53.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $170.50 million during the quarter, compared to analyst estimates of $173.50 million. Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. equities analysts expect that Wright Medical Group will post -0.27 EPS for the current year.

In related news, Director Richard F. Wallman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $24.00 per share, for a total transaction of $96,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Gregory Morrison sold 92,140 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $23.70, for a total value of $2,183,718.00. The disclosure for this sale can be found here. Insiders have sold a total of 92,540 shares of company stock worth $2,193,544 over the last ninety days. Insiders own 9.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Wright Medical Group by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock valued at $104,000 after acquiring an additional 396 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Wright Medical Group by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock worth $211,000 after buying an additional 640 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of Wright Medical Group during the 2nd quarter worth $267,000. Stevens Capital Management LP bought a new position in shares of Wright Medical Group during the 2nd quarter worth $335,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Wright Medical Group by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,424 shares of the medical device company’s stock worth $342,000 after buying an additional 1,636 shares in the last quarter.

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Wright Medical Group Company Profile

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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