Wright Medical Group Inc (NASDAQ:WMGI) was the target of some unusual options trading activity on Monday. Stock investors bought 700 put options on the company. This represents an increase of 977% compared to the average volume of 65 put options.
Wright Medical Group (NASDAQ:WMGI) opened at $24.03 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 1.52. Wright Medical Group has a fifty-two week low of $22.00 and a fifty-two week high of $31.53. The stock has a market cap of $1,240.00, a P/E ratio of -5.07, a PEG ratio of 120.96 and a beta of 0.60.
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, hitting analysts’ consensus estimates of ($0.16). Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The company had revenue of $170.50 million during the quarter, compared to analyst estimates of $173.50 million. During the same quarter last year, the firm posted ($0.19) earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. research analysts forecast that Wright Medical Group will post -0.27 EPS for the current fiscal year.
In other Wright Medical Group news, SVP Gregory Morrison sold 92,140 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $23.70, for a total transaction of $2,183,718.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Wallman purchased 4,000 shares of Wright Medical Group stock in a transaction on Friday, November 10th. The shares were acquired at an average price of $24.00 per share, for a total transaction of $96,000.00. The disclosure for this purchase can be found here. Insiders have sold 92,440 shares of company stock worth $2,191,103 over the last quarter. Company insiders own 3.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WMGI. Schwab Charles Investment Management Inc. lifted its stake in Wright Medical Group by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 443,132 shares of the medical device company’s stock worth $12,182,000 after acquiring an additional 11,082 shares during the period. Legal & General Group Plc lifted its position in Wright Medical Group by 1.7% during the second quarter. Legal & General Group Plc now owns 36,752 shares of the medical device company’s stock valued at $1,009,000 after buying an additional 597 shares during the period. BNP Paribas Arbitrage SA lifted its position in Wright Medical Group by 286.5% during the second quarter. BNP Paribas Arbitrage SA now owns 14,745 shares of the medical device company’s stock valued at $405,000 after buying an additional 10,930 shares during the period. Prudential Financial Inc. lifted its position in Wright Medical Group by 9.1% during the second quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock valued at $211,000 after buying an additional 640 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Wright Medical Group by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock valued at $104,000 after buying an additional 396 shares during the period.
A number of brokerages have commented on WMGI. BidaskClub upgraded shares of Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Cantor Fitzgerald set a $30.00 price target on shares of Wright Medical Group and gave the company a “buy” rating in a research report on Monday. TheStreet cut shares of Wright Medical Group from a “c-” rating to a “d+” rating in a research report on Wednesday, December 27th. ValuEngine cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Jefferies Group restated a “buy” rating on shares of Wright Medical Group in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.89.
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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.
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