Wright Medical Group Sees Unusually High Options Volume (WMGI)

Wright Medical Group Inc (NASDAQ:WMGI) was the recipient of unusually large options trading activity on Tuesday. Traders bought 910 put options on the stock. This represents an increase of approximately 838% compared to the average daily volume of 97 put options.

Several research analysts have recently issued reports on the stock. Barclays decreased their price objective on shares of Wright Medical Group from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. BMO Capital Markets cut their target price on shares of Wright Medical Group from $34.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Needham & Company LLC restated a “hold” rating on shares of Wright Medical Group in a research report on Thursday, November 2nd. Royal Bank of Canada restated a “buy” rating and issued a $30.00 price target on shares of Wright Medical Group in a research report on Thursday, November 2nd. Finally, BidaskClub upgraded shares of Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.89.

Wright Medical Group (NASDAQ:WMGI) opened at $20.08 on Thursday. Wright Medical Group has a 1-year low of $19.04 and a 1-year high of $31.53. The stock has a market cap of $1,030.00, a PE ratio of -4.24, a P/E/G ratio of 153.57 and a beta of 0.59. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52.

Institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. increased its position in Wright Medical Group by 8.1% in the 3rd quarter. American International Group Inc. now owns 70,114 shares of the medical device company’s stock valued at $1,814,000 after acquiring an additional 5,242 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Wright Medical Group in the 3rd quarter valued at about $511,000. Schwab Charles Investment Management Inc. increased its position in Wright Medical Group by 7.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 474,145 shares of the medical device company’s stock valued at $12,267,000 after acquiring an additional 31,013 shares in the last quarter. Elk Creek Partners LLC grew its position in shares of Wright Medical Group by 12.4% during the 3rd quarter. Elk Creek Partners LLC now owns 1,021,475 shares of the medical device company’s stock worth $26,426,000 after buying an additional 113,043 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Wright Medical Group during the 3rd quarter worth approximately $643,000.

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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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