Wright Medical Group Inc. (NASDAQ:WMGI)‘s stock had its “overweight” rating reiterated by stock analysts at Barclays PLC in a report released on Wednesday. They currently have a $33.00 target price on the medical device company’s stock. Barclays PLC’s target price indicates a potential upside of 34.20% from the company’s previous close.
Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Wright Medical Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $21.00 to $26.00 in a report on Wednesday, July 13th. Zacks Investment Research cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Guggenheim started coverage on shares of Wright Medical Group in a report on Wednesday, June 8th. They issued a “buy” rating and a $22.00 price target on the stock. Jefferies Group restated a “buy” rating and issued a $29.00 price target on shares of Wright Medical Group in a report on Monday, August 15th. Finally, Piper Jaffray Cos. upgraded shares of Wright Medical Group from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $25.67.
Shares of Wright Medical Group (NASDAQ:WMGI) opened at 24.59 on Wednesday. The company’s 50-day moving average is $24.18 and its 200 day moving average is $20.25. Wright Medical Group has a 1-year low of $15.02 and a 1-year high of $25.50. The company’s market cap is $2.53 billion.
Wright Medical Group (NASDAQ:WMGI) last issued its earnings results on Tuesday, August 2nd. The medical device company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. Wright Medical Group had a negative net margin of 79.16% and a negative return on equity of 7.86%. The company had revenue of $170 million for the quarter, compared to analysts’ expectations of $172.81 million. During the same period in the prior year, the business earned ($0.71) EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. Equities analysts anticipate that Wright Medical Group will post ($0.49) EPS for the current year.
Several institutional investors have recently bought and sold shares of WMGI. BNP Paribas Arbitrage SA raised its position in Wright Medical Group by 139.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,987 shares of the medical device company’s stock valued at $104,000 after buying an additional 3,488 shares during the period. Eachwin Capital LP purchased a new position in Wright Medical Group during the first quarter valued at $327,000. Bridger Management LLC purchased a new position in Wright Medical Group during the first quarter valued at $59,372,000. Bellevue Group AG purchased a new position in Wright Medical Group during the first quarter valued at $1,167,000. Finally, A.R.T. Advisors LLC purchased a new position in Wright Medical Group during the first quarter valued at $1,246,000.
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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