Wright Medical Group (NASDAQ:WMGI) was downgraded by TheStreet from a “c-” rating to a “d+” rating in a report issued on Wednesday, December 27th.
WMGI has been the subject of several other reports. Robert W. Baird reiterated a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group in a research note on Friday, October 6th. Needham & Company LLC reiterated a “hold” rating on shares of Wright Medical Group in a research note on Friday, September 1st. Jefferies Group restated a “buy” rating and set a $33.00 price target on shares of Wright Medical Group in a research note on Thursday, October 12th. Royal Bank of Canada restated a “buy” rating and set a $31.00 price target on shares of Wright Medical Group in a research note on Tuesday, October 3rd. Finally, BMO Capital Markets dropped 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 issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $31.89.
Wright Medical Group (NASDAQ:WMGI) opened at $24.04 on Wednesday. The company has a market capitalization of $2,577.47, a price-to-earnings ratio of -9.07, a P/E/G ratio of 506.80 and a beta of 0.60. Wright Medical Group has a 12 month low of $22.00 and a 12 month high of $31.53. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.31 and a quick ratio of 0.96.
Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.16). The firm 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 business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. equities analysts predict that Wright Medical Group will post -0.27 EPS for the current fiscal year.
In related news, Director Richard F. Wallman bought 4,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was bought 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gregory Morrison sold 92,140 shares of the company’s stock in a transaction dated 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. Insiders have sold 92,440 shares of company stock valued at $2,191,103 over the last 90 days. 9.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Jay Capital Management LLC boosted its position in shares of Wright Medical Group by 4.7% in the second quarter. Blue Jay Capital Management LLC now owns 320,420 shares of the medical device company’s stock worth $8,808,000 after buying an additional 14,255 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Wright Medical Group in the third quarter worth about $511,000. Victory Capital Management Inc. boosted its position in shares of Wright Medical Group by 30.6% in the second quarter. Victory Capital Management Inc. now owns 1,039,308 shares of the medical device company’s stock worth $28,571,000 after buying an additional 243,630 shares during the period. Capital Research Global Investors boosted its position in shares of Wright Medical Group by 60.9% in the second quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock worth $76,285,000 after buying an additional 1,050,000 shares during the period. Finally, Elk Creek Partners LLC boosted its position in shares of Wright Medical Group by 12.4% in the third quarter. Elk Creek Partners LLC now owns 1,021,475 shares of the medical device company’s stock worth $26,426,000 after buying an additional 113,043 shares during the period.
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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.
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