Wright Medical Group Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:WMGI)
Wright Medical Group (NASDAQ:WMGI) has earned an average rating of “Buy” from the twelve ratings firms that are presently covering the stock, Analyst Ratings Network reports. Four investment 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. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $35.64.
Wright Medical Group (NASDAQ:WMGI) opened at 29.86 on Thursday. Wright Medical Group has a 52 week low of $23.70 and a 52 week high of $33.80. The stock’s 50-day moving average is $31.40 and its 200-day moving average is $30.7. The company’s market cap is $1.482 billion.
Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Tuesday, August 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted ($0.34) earnings per share. The company’s revenue for the quarter was up 397.3% on a year-over-year basis. Analysts expect that Wright Medical Group will post $-1.33 EPS for the current fiscal year.
A number of analysts have recently weighed in on WMGI shares. Analysts at Zacks reiterated a “neutral” rating on shares of Wright Medical Group in a research note on Thursday. They now have a $32.00 price target on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Wright Medical Group in a research note on Wednesday, August 6th. They now have a $40.00 price target on the stock, up previously from $37.00.
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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