BidaskClub Downgrades Wright Medical Group (WMGI) to Sell

Wright Medical Group (NASDAQ:WMGI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other analysts have also recently commented on WMGI. Needham & Company LLC reaffirmed a “hold” rating on shares of Wright Medical Group in a research note on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 target price on shares of Wright Medical Group in a research note on Tuesday, October 3rd. Robert W. Baird reissued a “buy” rating and set a $33.00 target price on shares of Wright Medical Group in a research note on Friday, October 6th. Jefferies Group reissued a “buy” rating and set a $33.00 target price on shares of Wright Medical Group in a research note on Thursday, October 12th. Finally, BMO Capital Markets lowered their target price 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.22.

Shares of Wright Medical Group (NASDAQ:WMGI) opened at $23.57 on Thursday. 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 52 week low of $22.14 and a 52 week high of $31.53.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The company had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $173.50 million. Wright Medical Group had a negative return on equity of 65.31% and a negative net margin of 46.39%. Wright Medical Group’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. sell-side analysts predict that Wright Medical Group will post -0.27 EPS for the current fiscal year.

In other news, Director Richard F. Wallman purchased 4,000 shares of Wright Medical Group stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $24.00 per share, with a total value of $96,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Gregory Morrison sold 92,140 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was 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. Over the last three months, insiders have sold 92,440 shares of company stock valued at $2,191,500. 9.30% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Wright Medical Group by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock worth $104,000 after acquiring an additional 396 shares during the last quarter. First Mercantile Trust Co. boosted its position in Wright Medical Group by 21.7% during the 2nd quarter. First Mercantile Trust Co. now owns 4,380 shares of the medical device company’s stock worth $120,000 after acquiring an additional 780 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in Wright Medical Group during the 2nd quarter worth approximately $148,000. US Bancorp DE boosted its position in Wright Medical Group by 41.3% during the 2nd quarter. US Bancorp DE now owns 5,624 shares of the medical device company’s stock worth $155,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in 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 acquiring an additional 640 shares during 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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