Wright Medical Group PT Raised to $34.00 (WMGI)
Research analysts at Piper Jaffray Cos. lifted their price objective on shares of Wright Medical Group (NASDAQ:WMGI) from $30.00 to $34.00 in a report released on Thursday, Analyst Ratings Network.com reports. Piper Jaffray Cos.’s target price suggests a potential upside of 28.01% from the company’s current price.
Shares of Wright Medical Group (NASDAQ:WMGI) traded down 3.14% on Thursday, hitting $26.56. 1,170,761 shares of the company’s stock traded hands. Wright Medical Group has a 52 week low of $18.89 and a 52 week high of $28.41. The stock has a 50-day moving average of $25.9 and a 200-day moving average of $25.36. The company’s market cap is $1.228 billion.
Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.13) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.13). The company had revenue of $60.60 million for the quarter, compared to the consensus estimate of $122.55 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts expect that Wright Medical Group will post $-0.56 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays initiated coverage on shares of Wright Medical Group in a research note to investors on Friday, October 4th. They set an “equal weight” rating and a $28.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Wright Medical Group in a research note to investors on Thursday, September 26th. They now have a $28.00 price target on the stock. Finally, analysts at Needham & Company raised their EPS on shares of Wright Medical Group in a research note to investors on Thursday, September 19th. They now have a “buy” rating and a $29.00 price target on the stock. They previously had a $28.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Wright Medical Group currently has an average rating of “Buy” and a consensus price target of $29.55.
Wright Medical Group, Inc, through Wright Medical Technology, Inc (NASDAQ:WMGI) and other operating subsidiaries (Wright), is a global orthopaedic medical device company specializing in the design, manufacture and marketing of devices and biologic products for extremity, hip and knee repair and reconstruction.
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