Wright Medical Group (NASDAQ:WMGI) Rating Lowered to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of Wright Medical Group (NASDAQ:WMGI) from an outperform rating to a neutral rating in a research report sent to investors on Monday, Briefing.com Automated Import reports. Robert W. Baird currently has $31.00 price target on the medical device company’s stock, up from their prior price target of $28.00.

Several other equities research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Wright Medical Group from a hold rating to a buy rating in a research note on Friday, November 8th. Piper Jaffray Companies downgraded shares of Wright Medical Group from an overweight rating to a neutral rating in a research note on Monday, November 4th. Cantor Fitzgerald downgraded shares of Wright Medical Group from an overweight rating to a neutral rating in a research note on Monday, November 4th. Royal Bank of Canada downgraded shares of Wright Medical Group from an outperform rating to a sector perform rating and lowered their target price for the company from $34.00 to $24.00 in a research note on Thursday, August 8th. Finally, Needham & Company LLC restated a buy rating and issued a $33.00 target price (down from $38.00) on shares of Wright Medical Group in a research note on Tuesday, July 23rd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Wright Medical Group has a consensus rating of Hold and a consensus target price of $30.81.

WMGI traded up $0.01 during trading on Monday, hitting $29.39. The stock had a trading volume of 3,025,200 shares, compared to its average volume of 2,511,299. The company has a market capitalization of $3.71 billion, a PE ratio of 325.56, a PEG ratio of 10.84 and a beta of 0.78. Wright Medical Group has a twelve month low of $19.04 and a twelve month high of $32.86. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a 50 day simple moving average of $22.34 and a two-hundred day simple moving average of $25.79.

In other news, EVP Kevin D. Cordell sold 1,263 shares of Wright Medical Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $21.21, for a total transaction of $26,788.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 3,357 shares of company stock valued at $70,822 over the last quarter. Insiders own 3.80% of the company’s stock.

Several large investors have recently bought and sold shares of WMGI. FTB Advisors Inc. lifted its stake in shares of Wright Medical Group by 34.9% during the third quarter. FTB Advisors Inc. now owns 1,963 shares of the medical device company’s stock worth $40,000 after buying an additional 508 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Wright Medical Group during the second quarter worth $56,000. Tower Research Capital LLC TRC lifted its stake in shares of Wright Medical Group by 13,009.1% during the third quarter. Tower Research Capital LLC TRC now owns 2,884 shares of the medical device company’s stock worth $59,000 after buying an additional 2,862 shares during the period. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Wright Medical Group during the second quarter worth $118,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Wright Medical Group during the third quarter worth $119,000.

Wright Medical Group Company Profile

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. 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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