Investors Buy High Volume of Put Options on Wright Medical Group (WMGI)

Wright Medical Group Inc (NASDAQ:WMGI) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 910 put options on the company. This is an increase of approximately 838% compared to the average volume of 97 put options.

Wright Medical Group (NASDAQ WMGI) traded up $0.64 during mid-day trading on Wednesday, reaching $20.51. 1,888,328 shares of the company were exchanged, compared to its average volume of 1,152,756. The firm has a market cap of $2,117.77, a PE ratio of -7.74, a PEG ratio of 153.42 and a beta of 0.60. 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 one year low of $19.04 and a one year high of $31.53.

A number of research analysts have recently issued reports on WMGI shares. BidaskClub downgraded shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Jefferies Group reaffirmed a “buy” rating on shares of Wright Medical Group in a research report on Friday, November 3rd. TheStreet downgraded shares of Wright Medical Group from a “c-” rating to a “d+” rating in a research report on Wednesday, December 27th. ValuEngine downgraded shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Wright Medical Group in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.89.

A number of hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in 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 in the last quarter. Westfield Capital Management Co. LP boosted its stake in Wright Medical Group by 8.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,619,914 shares of the medical device company’s stock worth $67,777,000 after purchasing an additional 194,348 shares in the last quarter. AXA lifted its stake in Wright Medical Group by 573.7% during the 4th quarter. AXA now owns 1,876,649 shares of the medical device company’s stock valued at $41,662,000 after acquiring an additional 1,598,074 shares during the period. Macquarie Group Ltd. lifted its stake in Wright Medical Group by 13.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,389,355 shares of the medical device company’s stock valued at $35,943,000 after acquiring an additional 164,003 shares during the period. Finally, Elk Creek Partners LLC lifted its stake in Wright Medical Group by 12.4% during the 3rd quarter. Elk Creek Partners LLC now owns 1,021,475 shares of the medical device company’s stock valued at $26,426,000 after acquiring an additional 113,043 shares during the period.

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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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