Wright Medical Group (WMGI) Downgraded by BidaskClub to “Strong Sell”

BidaskClub downgraded shares of Wright Medical Group (NASDAQ:WMGI) from a sell rating to a strong sell rating in a research report report published on Wednesday.

Several other research firms have also weighed in on WMGI. Barclays decreased their target price on shares of Wright Medical Group from $33.00 to $30.00 and set an overweight rating on the stock in a report on Thursday, November 2nd. BMO Capital Markets decreased their target price on shares of Wright Medical Group from $34.00 to $31.00 and set an outperform rating on the stock in a report on Thursday, November 2nd. Needham & Company LLC reiterated a hold rating on shares of Wright Medical Group in a report on Thursday, November 2nd. Royal Bank of Canada reiterated a buy rating and issued a $30.00 target price on shares of Wright Medical Group in a report on Thursday, November 2nd. Finally, Jefferies Group reiterated a buy rating on shares of Wright Medical Group in a report on Friday, November 3rd. 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’s stock. Wright Medical Group currently has a consensus rating of Hold and an average target price of $31.89.

Wright Medical Group (NASDAQ:WMGI) opened at $20.08 on Wednesday. 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 $19.04 and a fifty-two week high of $31.53.

Several hedge funds have recently modified their holdings of the company. Palo Alto Investors LLC increased its stake in Wright Medical Group by 2.2% during the 4th quarter. Palo Alto Investors LLC now owns 2,736,293 shares of the medical device company’s stock worth $60,746,000 after buying an additional 59,900 shares during the period. Westfield Capital Management Co. LP increased its stake in Wright Medical Group by 8.0% during 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 buying an additional 194,348 shares during the period. AXA increased 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 worth $41,662,000 after buying an additional 1,598,074 shares during the period. Macquarie Group Ltd. increased its stake in Wright Medical Group by 11.2% during the 4th quarter. Macquarie Group Ltd. now owns 1,545,448 shares of the medical device company’s stock worth $34,309,000 after buying an additional 156,093 shares during the period. Finally, Elk Creek Partners LLC increased 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 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.

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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