Wright Medical Group (WMGI) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Wright Medical Group (NASDAQ:WMGI) from a hold rating to a sell rating in a report issued on Thursday morning.

Several other research firms have also commented on WMGI. Needham & Company LLC reiterated a hold rating on shares of Wright Medical Group in a research note on Friday, September 1st. Robert W. Baird reiterated a buy rating and issued a $33.00 price objective on shares of Wright Medical Group in a research note on Friday, October 6th. Jefferies Group reiterated a buy rating and issued a $33.00 price objective on shares of Wright Medical Group in a research note on Thursday, October 12th. Royal Bank Of Canada reiterated a buy rating and issued a $31.00 price objective on shares of Wright Medical Group in a research note on Tuesday, October 3rd. Finally, Barclays cut their price objective on shares of Wright Medical Group from $33.00 to $30.00 and set an overweight rating on the stock in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $32.22.

Wright Medical Group (WMGI) opened at $23.57 on Thursday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.31. 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 posted its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $170.50 million during the quarter, compared to analyst estimates of $173.50 million. Wright Medical Group had a negative net margin of 38.40% and a negative return on equity of 6.27%. Wright Medical Group’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) EPS. research analysts expect that Wright Medical Group will post -0.27 earnings per share for the current fiscal year.

In other Wright Medical Group news, SVP Gregory Morrison sold 92,140 shares of Wright Medical Group stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard F. Wallman purchased 4,000 shares of the company’s stock in a transaction on 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. Over the last three months, insiders sold 92,440 shares of company stock worth $2,191,500. Insiders own 3.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Wright Medical Group by 41.3% in the 2nd quarter. US Bancorp DE now owns 5,624 shares of the medical device company’s stock valued at $155,000 after acquiring an additional 1,644 shares during the period. Strs Ohio grew its stake in shares of Wright Medical Group by 290.8% during the 2nd quarter. Strs Ohio now owns 51,200 shares of the medical device company’s stock worth $1,407,000 after purchasing an additional 38,100 shares during the period. Trexquant Investment LP acquired a new position in shares of Wright Medical Group during the 2nd quarter worth $487,000. Schwab Charles Investment Management Inc. grew its stake in shares of Wright Medical Group by 2.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 443,132 shares of the medical device company’s stock worth $12,182,000 after purchasing an additional 11,082 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Wright Medical Group by 261.9% during the 2nd quarter. First Trust Advisors LP now owns 109,553 shares of the medical device company’s stock worth $3,012,000 after purchasing an additional 79,283 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.

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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