Wright Medical Group (NASDAQ:WMGI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other brokerages have also recently weighed in on WMGI. Needham & Company LLC reiterated a “hold” rating on shares of Wright Medical Group in a research report on Friday, September 1st. Robert W. Baird reiterated a “buy” rating and set a $33.00 price target on shares of Wright Medical Group in a research report on Friday, October 6th. Jefferies Group restated a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group in a research report on Thursday, October 12th. Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of Wright Medical Group in a research report on Tuesday, October 3rd. Finally, Barclays lowered their target price 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 assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.22.
Shares of Wright Medical Group (NASDAQ:WMGI) traded down $0.57 during trading on Thursday, hitting $22.57. The stock had a trading volume of 1,099,799 shares, compared to its average volume of 1,031,606. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.31. Wright Medical Group has a fifty-two week low of $22.14 and a fifty-two week high of $31.53.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). The business had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $173.50 million. Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS. research analysts expect that Wright Medical Group will post -0.27 EPS for the current year.
In other Wright Medical Group news, Director Richard F. Wallman bought 4,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average cost of $24.00 per share, for a total transaction of $96,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gregory Morrison sold 92,140 shares of the firm’s stock in a transaction that occurred 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 sold 92,440 shares of company stock worth $2,191,500. 9.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WMGI. US Bancorp DE boosted its stake in Wright Medical Group by 41.3% during the 2nd quarter. US Bancorp DE now owns 5,624 shares of the medical device company’s stock valued at $155,000 after purchasing an additional 1,644 shares in the last quarter. Strs Ohio boosted its stake in Wright Medical Group by 290.8% during the 2nd quarter. Strs Ohio now owns 51,200 shares of the medical device company’s stock valued at $1,407,000 after purchasing an additional 38,100 shares in the last quarter. Trexquant Investment LP bought a new position in Wright Medical Group during the 2nd quarter valued at $487,000. Schwab Charles Investment Management Inc. boosted its stake in Wright Medical Group by 2.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 443,132 shares of the medical device company’s stock valued at $12,182,000 after purchasing an additional 11,082 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Wright Medical Group by 261.9% during the 2nd quarter. First Trust Advisors LP now owns 109,553 shares of the medical device company’s stock valued at $3,012,000 after purchasing an additional 79,283 shares in the last quarter.
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Wright Medical Group Company Profile
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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