Insider Selling: Wright Medical Group Insider Sells 8,473 Shares of Stock (WMGI)
Wright Medical Group (NASDAQ:WMGI) Insider Eric Stookey sold 8,473 shares of the stock on the open market in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $31.11, for a total transaction of $263,595.03. Following the completion of the transaction, the insider now directly owns 83,668 shares in the company, valued at approximately $2,602,911. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
WMGI has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Wright Medical Group from $28.00 to $30.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Wright Medical Group from $26.00 to $28.00 in a research note to investors on Tuesday, November 12th. They now have a “sector perform” rating on the stock. Finally, analysts at Piper Jaffray raised their price target on shares of Wright Medical Group from $34.00 to $35.00 in a research note to investors on Tuesday, November 5th. They now have an “overweight” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.00.
Wright Medical Group (NASDAQ:WMGI) traded up 0.93% on Thursday, hitting $31.38. 297,262 shares of the company’s stock traded hands. Wright Medical Group has a 52-week low of $20.69 and a 52-week high of $31.25. The stock has a 50-day moving average of $29.92 and a 200-day moving average of $27.27. The company’s market cap is $1.457 billion.
Wright Medical Group (NASDAQ:WMGI) last released its earnings data on Monday, November 4th. The company reported ($0.18) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.18). The company had revenue of $57.64 million for the quarter, compared to the consensus estimate of $56.30 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 47.8% on a year-over-year basis. Analysts expect that Wright Medical Group will post $-0.57 EPS for the current fiscal year.
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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