Wright Medical Group Sees Unusually High Options Volume (WMGI)

Wright Medical Group Inc (NASDAQ:WMGI) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 910 put options on the company. This represents an increase of approximately 838% compared to the typical volume of 97 put options.

A number of equities analysts have issued reports on WMGI shares. Needham & Company LLC reiterated a “hold” rating on shares of Wright Medical Group in a report on Thursday, November 2nd. BMO Capital Markets decreased their price objective on Wright Medical Group from $34.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Barclays decreased their price objective on 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 restated a “buy” rating and issued a $30.00 price objective on shares of Wright Medical Group in a report on Thursday, November 2nd. Finally, Jefferies Group restated a “buy” rating on shares of Wright Medical Group in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Wright Medical Group currently has an average rating of “Hold” and an average price target of $31.89.

Shares of Wright Medical Group (NASDAQ WMGI) traded up $0.64 during midday trading on Wednesday, hitting $20.51. The stock had a trading volume of 1,888,328 shares, compared to its average volume of 1,152,756. The company has a market cap of $2,117.77, a PE ratio of -7.50, a price-to-earnings-growth ratio of 153.42 and a beta of 0.60. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.31 and a quick ratio of 0.96. Wright Medical Group has a 12 month low of $19.04 and a 12 month high of $31.53.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Foundation Asset Management LP grew its holdings in Wright Medical Group by 4.4% during the fourth quarter. Foundation Asset Management LP now owns 826,308 shares of the medical device company’s stock worth $18,344,000 after purchasing an additional 35,000 shares during the period. Thrivent Financial For Lutherans grew its holdings in Wright Medical Group by 5.2% during the fourth quarter. Thrivent Financial For Lutherans now owns 349,750 shares of the medical device company’s stock worth $7,764,000 after purchasing an additional 17,430 shares during the period. University of Notre Dame DU Lac grew its holdings in Wright Medical Group by 24.3% during the fourth quarter. University of Notre Dame DU Lac now owns 221,189 shares of the medical device company’s stock worth $4,910,000 after purchasing an additional 43,236 shares during the period. Invictus RG bought a new position in Wright Medical Group during the fourth quarter worth about $411,000. Finally, AXA grew its holdings in Wright Medical Group by 573.7% during the fourth quarter. AXA now owns 1,876,649 shares of the medical device company’s stock worth $41,662,000 after purchasing an additional 1,598,074 shares during the period.

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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.

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