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Wright Medical Group (NASDAQ:WMGI)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday, ARN reports. They currently have a $34.00 target price on the stock. Zacks‘ price target points to a potential upside of 5.56% from the company’s current price.

Zacks‘ analyst wrote, “Wright Medical Group saw a broader 2013-third quarter loss of $0.18 per share compared with $0.04 in the same quarter of 2012 but met the Zacks Consensus Estimate. Although, the company’s revenues of $57.6 million surpassed the Zacks Consensus Estimate, the recent regulatory issue regarding the newly acquired BioMimetic’s flagship product has moderated our view regarding near-term catalysts driving revenue growth. However, the decision to sell off the OrthoRecon business bodes well for the company, as it can now focus on expanding its high-growth Extremities and Biologics businesses globally. Further, the Foot and Ankle product line is growing at a healthy double-digit rate, a trend which is expected to continue. As such, we reiterate our Neutral recommendation on the stock with a target of $34.00.”

Shares of Wright Medical Group (NASDAQ:WMGI) traded down 1.24% during mid-day trading on Friday, hitting $31.81. The stock had a trading volume of 74,642 shares. Wright Medical Group has a 1-year low of $20.69 and a 1-year high of $32.52. The stock’s 50-day moving average is $30.25 and its 200-day moving average is $27.52. The company’s market cap is $1.477 billion.

Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.18) EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue 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.

A number of other firms have also recently commented on WMGI. Analysts at Leerink Swann raised their price target on shares of Wright Medical Group from $31.00 to $37.00 in a research note to investors on Friday. Separately, 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, January 9th. They now have an “equal weight” rating on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $31.27.

In other Wright Medical Group news, SVP Jennifer Walker sold 6,050 shares of Wright Medical Group stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $32.00, for a total value of $193,600.00. Following the completion of the sale, the senior vice president now directly owns 36,210 shares of the company’s stock, valued at approximately $1,158,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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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