BidaskClub upgraded shares of Wright Medical Group (NASDAQ:WMGI) from a sell rating to a hold rating in a report released on Tuesday.
A number of other brokerages have also weighed in on WMGI. Jefferies Group restated a buy rating on shares of Wright Medical Group in a research note on Friday, November 3rd. TheStreet lowered Wright Medical Group from a c- rating to a d+ rating in a research note on Wednesday, December 27th. ValuEngine lowered 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 objective on shares of Wright Medical Group in a research note on Thursday, November 2nd. Finally, BMO Capital Markets lowered their price objective 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Wright Medical Group currently has an average rating of Buy and an average price target of $31.89.
Shares of Wright Medical Group (WMGI) traded up $0.36 during midday trading on Tuesday, reaching $24.39. The company’s stock had a trading volume of 832,800 shares, compared to its average volume of 816,675. Wright Medical Group has a 12-month low of $22.00 and a 12-month high of $31.53. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52. The firm has a market cap of $1,240.00, a price-to-earnings ratio of -5.15, a PEG ratio of 120.96 and a beta of 0.60.
Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share for the quarter, meeting 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 firm 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 earned ($0.19) EPS. Wright Medical Group’s quarterly revenue was up 8.4% on a year-over-year basis. equities analysts anticipate that Wright Medical Group will post -0.27 EPS for the current 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 stock was sold at an average price of $23.70, for a total transaction of $2,183,718.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard F. Wallman bought 4,000 shares of Wright Medical Group stock in a transaction on Friday, November 10th. The shares were purchased at an average cost of $24.00 per share, for a total transaction of $96,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 92,440 shares of company stock worth $2,191,103. 3.50% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new stake in shares of Wright Medical Group in the 2nd quarter worth approximately $68,618,000. Capital Research Global Investors lifted its holdings in shares of Wright Medical Group by 60.9% in the 2nd quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock worth $76,285,000 after purchasing an additional 1,050,000 shares during the last quarter. FMR LLC lifted its holdings in shares of Wright Medical Group by 5.7% in the 2nd quarter. FMR LLC now owns 15,644,806 shares of the medical device company’s stock worth $430,075,000 after purchasing an additional 845,909 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wright Medical Group by 139.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,209,407 shares of the medical device company’s stock worth $33,247,000 after purchasing an additional 705,300 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Wright Medical Group by 20.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,890,789 shares of the medical device company’s stock worth $74,785,000 after purchasing an additional 500,583 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.
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