ValuEngine upgraded shares of Wright Medical Group (NASDAQ:WMGI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

A number of other research analysts also recently issued reports on the stock. BMO Capital Markets upgraded shares of Wright Medical Group from a market perform rating to an outperform rating and upped their target price for the company from $28.00 to $31.00 in a research report on Wednesday, August 29th. Needham & Company LLC upgraded shares of Wright Medical Group from a hold rating to a buy rating and set a $30.00 target price on the stock in a research report on Tuesday, August 28th. Oppenheimer set a $28.00 target price on shares of Wright Medical Group and gave the company a hold rating in a research report on Thursday, August 9th. Guggenheim upgraded shares of Wright Medical Group from a neutral rating to a buy rating in a research report on Wednesday, June 13th. Finally, BidaskClub downgraded shares of Wright Medical Group from a buy rating to a hold rating in a research report on Wednesday, August 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Wright Medical Group currently has a consensus rating of Buy and a consensus target price of $31.08.

Wright Medical Group stock opened at $28.01 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.06. Wright Medical Group has a 1 year low of $19.01 and a 1 year high of $29.50. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -127.32 and a beta of 1.11.

Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Wednesday, August 8th. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. The company had revenue of $205.40 million for the quarter, compared to the consensus estimate of $197.20 million. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue was up 14.3% compared to the same quarter last year. analysts forecast that Wright Medical Group will post -0.15 earnings per share for the current year.

In other news, CFO Lance A. Berry sold 1,182 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $27.19, for a total value of $32,138.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jennifer S. Walker sold 11,466 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $28.60, for a total value of $327,927.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,059 shares of company stock valued at $1,518,067. 4.00% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in WMGI. FMR LLC increased its stake in Wright Medical Group by 1.6% during the 2nd quarter. FMR LLC now owns 15,895,471 shares of the medical device company’s stock worth $412,647,000 after purchasing an additional 256,310 shares in the last quarter. Nomura Holdings Inc. increased its stake in Wright Medical Group by 184.6% during the 2nd quarter. Nomura Holdings Inc. now owns 1,010,663 shares of the medical device company’s stock worth $26,237,000 after purchasing an additional 655,514 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Wright Medical Group by 43.8% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,236,856 shares of the medical device company’s stock worth $32,109,000 after purchasing an additional 377,003 shares in the last quarter. Marshall Wace LLP bought a new stake in Wright Medical Group during the 2nd quarter worth approximately $297,000. Finally, Point72 Asset Management L.P. bought a new stake in Wright Medical Group during the 2nd quarter worth approximately $77,033,000.

About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.

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Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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