Wright Medical Group’s (WMGI) “Market Perform” Rating Reaffirmed at BMO Capital Markets

Wright Medical Group (NASDAQ:WMGI)‘s stock had its “market perform” rating reiterated by analysts at BMO Capital Markets in a note issued to investors on Tuesday. They currently have a $25.00 target price on the medical device company’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 3.66% from the company’s current price.

Several other brokerages have also commented on WMGI. ValuEngine upgraded Wright Medical Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Leerink Swann raised their price target on Wright Medical Group from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, June 21st. Oppenheimer set a $25.00 price target on Wright Medical Group and gave the company a “hold” rating in a research note on Thursday, May 10th. BidaskClub upgraded Wright Medical Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 4th. Finally, TheStreet upgraded Wright Medical Group from a “d+” rating to a “c-” rating in a research note on Wednesday, June 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $29.67.

Shares of Wright Medical Group stock opened at $25.95 on Tuesday. The firm has a market cap of $2.80 billion, a PE ratio of -117.95 and a beta of 0.83. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.95 and a current ratio of 1.42. Wright Medical Group has a 12 month low of $19.01 and a 12 month high of $29.89.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, May 9th. The medical device company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.06. The firm had revenue of $198.54 million for the quarter, compared to analyst estimates of $193.69 million. Wright Medical Group had a negative return on equity of 2.58% and a negative net margin of 22.11%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. sell-side analysts predict that Wright Medical Group will post -0.14 earnings per share for the current year.

In related news, VP Julie Andrews sold 1,466 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $24.62, for a total transaction of $36,092.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Robert P. Burrows III sold 2,681 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $24.61, for a total value of $65,979.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,522 shares of company stock worth $1,451,102. 4.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. OppenheimerFunds Inc. boosted its holdings in Wright Medical Group by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 645,664 shares of the medical device company’s stock worth $12,810,000 after acquiring an additional 2,936 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Wright Medical Group by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 206,313 shares of the medical device company’s stock worth $4,580,000 after acquiring an additional 2,996 shares in the last quarter. US Bancorp DE boosted its holdings in Wright Medical Group by 22.8% in the first quarter. US Bancorp DE now owns 27,186 shares of the medical device company’s stock worth $540,000 after acquiring an additional 5,050 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Wright Medical Group by 7.0% in the first quarter. Principal Financial Group Inc. now owns 92,781 shares of the medical device company’s stock worth $1,841,000 after acquiring an additional 6,084 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Wright Medical Group by 3.8% in the first quarter. Swiss National Bank now owns 173,394 shares of the medical device company’s stock worth $3,440,000 after acquiring an additional 6,300 shares in the last quarter.

About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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