Wright Medical Group, Inc. (NASDAQ:WMGI) has been assigned an average rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $28.86.
A number of brokerages have issued reports on WMGI. Barclays reiterated an “overweight” rating and issued a $25.00 price target (down previously from $27.00) on shares of Wright Medical Group in a research note on Wednesday, February 28th. Cantor Fitzgerald set a $30.00 price target on Wright Medical Group and gave the stock a “buy” rating in a research note on Monday, January 8th. ValuEngine lowered Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. BidaskClub lowered Wright Medical Group from a “sell” rating to a “strong sell” rating in a research note on Friday, April 13th. Finally, TheStreet lowered Wright Medical Group from a “c-” rating to a “d+” rating in a research note on Wednesday, December 27th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new position in shares of Wright Medical Group during the 4th quarter valued at about $376,000. Invictus RG bought a new position in shares of Wright Medical Group during the 4th quarter valued at about $411,000. Public Employees Retirement Association of Colorado bought a new position in shares of Wright Medical Group during the 4th quarter valued at about $441,000. Iguana Healthcare Management LLC bought a new position in shares of Wright Medical Group during the 4th quarter valued at about $444,000. Finally, US Bancorp DE boosted its holdings in shares of Wright Medical Group by 305.8% during the 4th quarter. US Bancorp DE now owns 22,136 shares of the medical device company’s stock valued at $491,000 after purchasing an additional 16,681 shares during the last quarter.
Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Tuesday, February 27th. The medical device company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. Wright Medical Group had a negative return on equity of 3.78% and a negative net margin of 27.19%. The business had revenue of $217.60 million during the quarter, compared to analyst estimates of $215.69 million. sell-side analysts forecast that Wright Medical Group will post -0.18 EPS for the current fiscal year.
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Wright Medical Group Company Profile
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.
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