Wright Medical Group (NASDAQ:WMGI) Upgraded at BidaskClub

BidaskClub upgraded shares of Wright Medical Group (NASDAQ:WMGI) from a sell rating to a hold rating in a research report report published on Friday, BidAskClub reports.

Other equities research analysts have also issued research reports about the stock. TheStreet raised shares of Wright Medical Group from a d+ rating to a c- rating in a report on Tuesday, July 14th. Needham & Company LLC reissued a hold rating on shares of Wright Medical Group in a report on Wednesday, July 29th. Finally, Stifel Nicolaus lowered shares of Wright Medical Group from a buy rating to a hold rating and set a $30.00 target price on the stock. in a research note on Wednesday, August 26th. Twelve research analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average target price of $30.63.

Shares of NASDAQ:WMGI opened at $30.55 on Friday. Wright Medical Group has a 12 month low of $19.04 and a 12 month high of $30.66. The company’s 50-day moving average price is $30.27 and its two-hundred day moving average price is $29.47. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a market cap of $3.96 billion, a P/E ratio of -28.82, a P/E/G ratio of 6.59 and a beta of 0.61.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, July 29th. The medical device company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.36). Wright Medical Group had a negative return on equity of 3.86% and a negative net margin of 16.59%. The company had revenue of $129.00 million for the quarter. As a group, equities analysts predict that Wright Medical Group will post 0.42 earnings per share for the current fiscal year.

In related news, SVP James Lightman sold 1,526 shares of Wright Medical Group stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $30.16, for a total transaction of $46,024.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tim Lanier sold 2,299 shares of Wright Medical Group stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $29.39, for a total transaction of $67,567.61. The disclosure for this sale can be found here. Insiders sold a total of 15,216 shares of company stock worth $453,090 in the last ninety days. Insiders own 3.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its stake in Wright Medical Group by 3.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,368 shares of the medical device company’s stock worth $338,000 after acquiring an additional 376 shares during the last quarter. Arizona State Retirement System raised its holdings in Wright Medical Group by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 29,056 shares of the medical device company’s stock worth $864,000 after buying an additional 754 shares during the period. Rhumbline Advisers raised its holdings in Wright Medical Group by 0.4% during the 1st quarter. Rhumbline Advisers now owns 188,213 shares of the medical device company’s stock worth $5,392,000 after buying an additional 806 shares during the period. Advisor Group Holdings Inc. acquired a new stake in Wright Medical Group during the 1st quarter worth approximately $33,000. Finally, Gamco Investors INC. ET AL raised its holdings in Wright Medical Group by 0.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 254,626 shares of the medical device company’s stock worth $7,295,000 after buying an additional 1,455 shares during the period.

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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