Wright Medical Group Sees Unusually Large Options Volume (WMGI)

Wright Medical Group Inc (NASDAQ:WMGI) was the target of unusually large options trading activity on Monday. Stock investors bought 700 put options on the company. This represents an increase of 977% compared to the average daily volume of 65 put options.

Shares of Wright Medical Group (NASDAQ WMGI) opened at $24.03 on Thursday. The stock has a market cap of $1,240.00, a P/E ratio of -5.07, a PEG ratio of 120.96 and a beta of 0.60. Wright Medical Group has a 12 month low of $22.00 and a 12 month high of $31.53. 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 (NASDAQ:WMGI) last posted its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). The company had revenue of $170.50 million for 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%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. sell-side analysts forecast that Wright Medical Group will post -0.27 EPS for the current fiscal year.

In other 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Wallman purchased 4,000 shares of the stock in a transaction dated Friday, November 10th. The shares were purchased 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 quarter, insiders have sold 92,440 shares of company stock valued at $2,191,103. Insiders own 3.50% of the company’s stock.

Several large investors have recently modified their holdings of WMGI. Janus Henderson Group PLC bought a new stake in shares of Wright Medical Group in the second quarter worth $68,618,000. Capital Research Global Investors increased its stake in shares of Wright Medical Group by 60.9% in the second 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. FMR LLC increased its stake in shares of Wright Medical Group by 5.7% in the second quarter. FMR LLC now owns 15,644,806 shares of the medical device company’s stock worth $430,075,000 after buying an additional 845,909 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Wright Medical Group by 139.9% in the second quarter. Renaissance Technologies LLC now owns 1,209,407 shares of the medical device company’s stock worth $33,247,000 after buying an additional 705,300 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Wright Medical Group by 20.9% in the third quarter. Fisher Asset Management LLC now owns 2,890,789 shares of the medical device company’s stock worth $74,785,000 after buying an additional 500,583 shares during the last quarter.

Several equities research analysts recently issued reports on WMGI shares. Cantor Fitzgerald set a $30.00 target price on shares of Wright Medical Group and gave the stock a “buy” rating in a research report on Monday. Jefferies Group reissued a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group in a research report on Thursday, October 12th. Robert W. Baird reissued a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group in a research report on Friday, October 6th. Royal Bank of Canada reissued a “buy” rating and issued a $31.00 target price on shares of Wright Medical Group in a research report on Tuesday, October 3rd. Finally, TheStreet cut shares of Wright Medical Group from a “c-” rating to a “d+” rating in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.89.

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Wright Medical Group Company Profile

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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