Wright Medical Group (NASDAQ:WMGI) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.
A number of other research firms have also recently weighed in on WMGI. Needham & Company LLC reissued a “hold” rating on shares of Wright Medical Group in a report on Friday, September 1st. Robert W. Baird reissued a “buy” rating and issued a $33.00 price target on shares of Wright Medical Group in a report on Friday, October 6th. BidaskClub raised Wright Medical Group from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group reissued a “buy” rating and issued a $33.00 price target on shares of Wright Medical Group in a report on Thursday, October 12th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 price target on shares of Wright Medical Group in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.22.
Wright Medical Group (NASDAQ WMGI) traded down $0.57 on Thursday, reaching $22.57. The company’s stock had a trading volume of 1,099,799 shares, compared to its average volume of 1,031,606. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52. Wright Medical Group has a one year low of $22.14 and a one year high of $31.53.
Wright Medical Group (NASDAQ:WMGI) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The company had revenue of $170.50 million for the quarter, compared to the consensus estimate of $173.50 million. Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. Wright Medical Group’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. equities analysts anticipate that Wright Medical Group will post -0.27 earnings per share for the current year.
In related news, SVP Gregory Morrison sold 92,140 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $23.70, for a total value of $2,183,718.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard F. Wallman bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of $24.00 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 92,440 shares of company stock valued at $2,191,500. Insiders own 9.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WMGI. US Bancorp DE increased its stake in Wright Medical Group by 41.3% in the second 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 during the last quarter. Strs Ohio increased its stake in Wright Medical Group by 290.8% in the second 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 during the last quarter. Trexquant Investment LP acquired a new position in Wright Medical Group in the second quarter valued at $487,000. Schwab Charles Investment Management Inc. increased its stake in Wright Medical Group by 2.6% in the second 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 during the last quarter. Finally, First Trust Advisors LP increased its stake in Wright Medical Group by 261.9% in the second 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 during the last quarter.
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About Wright Medical Group
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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