Wright Medical Group Inc. (WMGI) Given Consensus Rating of “Buy” by Analysts
Shares of Wright Medical Group Inc. (NASDAQ:WMGI) have received an average recommendation of “Buy” from the sixteen ratings firms that are currently covering the stock. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $25.55.
A number of brokerages recently commented on WMGI. Zacks Investment Research upgraded Wright Medical Group from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, August 8th. Leerink Swann restated an “outperform” rating and set a $27.00 price objective (up from $25.00) on shares of Wright Medical Group in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. set a $26.00 price objective on Wright Medical Group and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Barclays PLC reiterated a “buy” rating and set a $33.00 price target on shares of Wright Medical Group in a research report on Thursday, November 3rd. Finally, Jefferies Group reiterated a “buy” rating and set a $29.00 price target on shares of Wright Medical Group in a research report on Monday, August 15th.
Shares of Wright Medical Group (NASDAQ:WMGI) traded down 1.74% on Wednesday, hitting $23.15. The stock had a trading volume of 111,958 shares. The firm’s market cap is $2.39 billion. The company’s 50-day moving average price is $23.10 and its 200 day moving average price is $21.93. Wright Medical Group has a 12-month low of $15.02 and a 12-month high of $25.50.
Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, November 2nd. The medical device company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. The firm earned $157.30 million during the quarter, compared to the consensus estimate of $157.64 million. Wright Medical Group had a negative return on equity of 6.48% and a negative net margin of 71.90%. The firm’s revenue was up 96.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) EPS. On average, equities research analysts forecast that Wright Medical Group will post ($0.49) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in WMGI. BNP Paribas Arbitrage SA raised its position in Wright Medical Group by 139.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,987 shares of the medical device company’s stock valued at $104,000 after buying an additional 3,488 shares during the last quarter. US Bancorp DE raised its position in Wright Medical Group by 15.1% in the third quarter. US Bancorp DE now owns 5,686 shares of the medical device company’s stock valued at $140,000 after buying an additional 746 shares during the last quarter. Cutler Group LP raised its position in Wright Medical Group by 109.3% in the third quarter. Cutler Group LP now owns 6,446 shares of the medical device company’s stock valued at $158,000 after buying an additional 75,646 shares during the last quarter. HighTower Advisors LLC acquired a new position in Wright Medical Group during the second quarter valued at $182,000. Finally, D.A. Davidson & CO. acquired a new position in Wright Medical Group during the third quarter valued at $185,000.
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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