ValuEngine downgraded shares of Wright Medical Group (NASDAQ:WMGI) from a hold rating to a sell rating in a report published on Thursday.

A number of other brokerages also recently weighed in on WMGI. Jefferies Group reissued a buy rating on shares of Wright Medical Group in a research note on Friday, November 3rd. Royal Bank Of Canada reissued a buy rating and issued a $30.00 price objective on shares of Wright Medical Group in a research note on Thursday, November 2nd. BMO Capital Markets dropped their price target on Wright Medical Group from $34.00 to $31.00 and set an outperform rating on the stock in a research report on Thursday, November 2nd. Needham & Company LLC reaffirmed a hold rating on shares of Wright Medical Group in a research report on Thursday, November 2nd. Finally, Barclays dropped their price target on Wright Medical Group from $33.00 to $30.00 and set an overweight rating on the stock in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $32.22.

Wright Medical Group (WMGI) opened at $23.57 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52. Wright Medical Group has a one year low of $22.14 and a one year high of $31.53.

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 the Zacks’ consensus estimate of ($0.16). Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The business had revenue of $170.50 million for the quarter, compared to the consensus estimate of $173.50 million. During the same period last year, the business earned ($0.19) EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. equities research analysts predict that Wright Medical Group will post -0.27 EPS for the current year.

In related news, Director Richard F. Wallman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average price of $24.00 per share, with a total value of $96,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Gregory Morrison sold 92,140 shares of the business’s stock in a transaction on Monday, November 13th. The shares were 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. Over the last 90 days, insiders have sold 92,440 shares of company stock worth $2,191,500. 3.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in 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 valued at $430,075,000 after buying an additional 845,909 shares in the last quarter. Vanguard Group Inc. boosted its stake in Wright Medical Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,232,880 shares of the medical device company’s stock valued at $226,321,000 after buying an additional 145,930 shares in the last quarter. 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 valued at $74,785,000 after buying an additional 500,583 shares in the last quarter. Capital Research Global Investors boosted its stake in 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 purchasing an additional 1,050,000 shares in the last quarter. Finally, Palo Alto Investors LLC boosted its stake in Wright Medical Group by 1.8% in the second quarter. Palo Alto Investors LLC now owns 2,676,393 shares of the medical device company’s stock worth $73,574,000 after purchasing an additional 48,200 shares in 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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