Wright Medical Group (NASDAQ:WMGI) had its target price lifted by investment analysts at Robert W. Baird from $32.00 to $35.00 in a note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the medical device company’s stock. Robert W. Baird’s price target suggests a potential upside of 15.93% from the company’s previous close.

Several other equities research analysts have also commented on WMGI. Piper Jaffray Companies boosted their price target on shares of Wright Medical Group to $35.00 and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC boosted their price target on shares of Wright Medical Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, October 25th. Jefferies Financial Group boosted their price target on shares of Wright Medical Group from $31.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Co boosted their price objective on shares of Wright Medical Group from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Oppenheimer set a $30.00 price objective on shares of Wright Medical Group and gave the stock a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.75.

NASDAQ:WMGI opened at $30.19 on Thursday. Wright Medical Group has a one year low of $19.01 and a one year high of $30.75. 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 (NASDAQ:WMGI) last posted its quarterly earnings results on Wednesday, November 7th. The medical device company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.06. Wright Medical Group had a negative net margin of 13.07% and a negative return on equity of 0.70%. The business had revenue of $194.11 million during the quarter, compared to analyst estimates of $186.09 million. During the same quarter in the previous year, the business posted ($0.16) EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wright Medical Group will post -0.05 EPS for the current year.

In related news, CFO Lance A. Berry sold 1,182 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $27.19, for a total transaction of $32,138.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Cooke sold 13,478 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $28.03, for a total transaction of $377,788.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,979 shares of company stock valued at $1,060,083. 4.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio grew its position in Wright Medical Group by 850.0% during the 2nd quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock worth $147,000 after purchasing an additional 5,100 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Wright Medical Group during the 3rd quarter worth approximately $204,000. Vishria Bird Financial Group LLC purchased a new stake in Wright Medical Group during the 3rd quarter worth approximately $214,000. Cortina Asset Management LLC purchased a new stake in Wright Medical Group during the 2nd quarter worth approximately $221,000. Finally, Jane Street Group LLC purchased a new stake in Wright Medical Group during the 1st quarter worth approximately $235,000.

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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