Wright Medical Group (NASDAQ:WMGI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

WMGI has been the subject of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Wright Medical Group in a report on Friday, September 1st. Robert W. Baird reiterated a “buy” rating and set a $33.00 price target on shares of Wright Medical Group in a report on Friday, October 6th. Barclays lowered their price target on shares of Wright Medical Group from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 price target on shares of Wright Medical Group in a report on Tuesday, October 3rd. Finally, BMO Capital Markets lowered their price target on shares of Wright Medical Group from $34.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $32.22.

Shares of Wright Medical Group (NASDAQ:WMGI) traded down $0.57 during mid-day trading on Thursday, hitting $22.57. 1,099,799 shares of the company were exchanged, compared to its average volume of 1,031,606. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 1.52. Wright Medical Group has a 52-week low of $22.14 and a 52-week high of $31.53.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $173.50 million. Wright Medical Group had a negative net margin of 38.40% and a negative return on equity of 6.27%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) earnings per share. research analysts predict that Wright Medical Group will post -0.27 EPS for the current year.

In other news, SVP Gregory Morrison sold 92,140 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $23.70, for a total transaction of $2,183,718.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard F. Wallman acquired 4,000 shares of Wright Medical Group stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $24.00 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 92,440 shares of company stock valued at $2,191,500 in the last quarter. 9.30% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Blue Jay Capital Management LLC lifted its position in shares of Wright Medical Group by 4.7% during the 2nd quarter. Blue Jay Capital Management LLC now owns 320,420 shares of the medical device company’s stock worth $8,808,000 after buying an additional 14,255 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Wright Medical Group by 30.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,039,308 shares of the medical device company’s stock worth $28,571,000 after buying an additional 243,630 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Wright Medical Group by 60.9% during the 2nd quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock worth $76,285,000 after buying an additional 1,050,000 shares during the last quarter. Northern Trust Corp lifted its position in shares of Wright Medical Group by 3.4% during the 2nd quarter. Northern Trust Corp now owns 1,865,977 shares of the medical device company’s stock worth $51,296,000 after buying an additional 60,840 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Wright Medical Group by 35.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,225,352 shares of the medical device company’s stock worth $33,685,000 after buying an additional 320,087 shares during the last quarter.

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About Wright Medical Group

Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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