Insider Selling: Wright Medical Group CFO Unloads 2,135 Shares of Stock (WMGI)
Wright Medical Group (NASDAQ:WMGI) CFO Lance A. Berry sold 2,135 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $29.30, for a total transaction of $62,555.50. Following the completion of the sale, the chief financial officer now directly owns 68,665 shares in the company, valued at approximately $2,011,885. The transaction was disclosed in a filing with the SEC, which is available at this link.
Wright Medical Group (NASDAQ:WMGI) traded up 2.23% during mid-day trading on Friday, hitting $29.595. The stock had a trading volume of 582,142 shares. Wright Medical Group has a 52 week low of $23.45 and a 52 week high of $33.80. The stock’s 50-day moving average is $29.2 and its 200-day moving average is $30.11. The company’s market cap is $1.439 billion.
Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.34) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.42) by $0.08. The company had revenue of $71.10 million for the quarter, compared to the consensus estimate of $69.49 million. Analysts expect that Wright Medical Group will post $-1.32 EPS for the current fiscal year.
A number of research firms have recently commented on WMGI. Analysts at Leerink Swann reiterated an “outperform” rating on shares of Wright Medical Group in a research note on Thursday, May 1st. They now have a $37.00 price target on the stock. Separately, analysts at Brean Capital raised their price target on shares of Wright Medical Group from $37.00 to $40.00 in a research note on Thursday, May 1st. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company LLC upgraded shares of Wright Medical Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 1st. They now have a $40.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.18.
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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