Wright Medical Group Given “Overweight” Rating at JPMorgan Chase & Co. (WMGI)
Wright Medical Group (NASDAQ:WMGI)‘s stock had its “overweight” rating restated by JPMorgan Chase & Co. in a research note issued on Wednesday. They currently have a $40.00 price target on the stock, up from their previous price target of $37.00. JPMorgan Chase & Co.’s price objective points to a potential upside of 32.63% from the company’s current price.
Shares of Wright Medical Group (NASDAQ:WMGI) traded down 3.15% on Wednesday, hitting $30.16. The stock had a trading volume of 2,311,715 shares. Wright Medical Group has a one year low of $23.70 and a one year high of $33.80. The stock has a 50-day moving average of $31.50 and a 200-day moving average of $30.77. The company’s market cap is $1.467 billion.
Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.48) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.45) by $0.03. The company had revenue of $72.40 million for the quarter, compared to the consensus estimate of $74.17 million. During the same quarter last year, the company posted ($0.34) earnings per share. Wright Medical Group’s revenue was up 397.3% compared to the same quarter last year. On average, analysts predict that Wright Medical Group will post $-1.32 earnings per share for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Wright Medical Group in a research note on Wednesday, June 18th. They now have a $32.00 price target on the stock. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $35.64.
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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