Cantor Fitzgerald Analysts Give Wright Medical Group (WMGI) a $30.00 Price Target

Cantor Fitzgerald set a $30.00 target price on Wright Medical Group (NASDAQ:WMGI) in a research note released on Monday morning. The firm currently has a buy rating on the medical device company’s stock. Cantor Fitzgerald also issued estimates for Wright Medical Group’s FY2017 earnings at $0.27 EPS and FY2018 earnings at $0.06 EPS.

Several other brokerages have also issued reports on WMGI. Jefferies Group restated a buy rating on shares of Wright Medical Group in a research note on Friday, November 3rd. TheStreet downgraded Wright Medical Group from a c- rating to a d+ rating in a report on Wednesday, December 27th. ValuEngine cut shares of Wright Medical Group from a hold rating to a sell rating in a research report on Thursday, December 7th. Royal Bank of Canada reiterated a buy rating and set a $30.00 target price on shares of Wright Medical Group in a research report on Thursday, November 2nd. Finally, BMO Capital Markets dropped their target price on shares of Wright Medical Group from $34.00 to $31.00 and set an outperform rating for the company in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $31.89.

Shares of Wright Medical Group (NASDAQ:WMGI) traded up $0.36 on Monday, reaching $24.39. The company had a trading volume of 832,800 shares, compared to its average volume of 816,675. Wright Medical Group has a 1 year low of $22.00 and a 1 year high of $31.53. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $1,240.00, a price-to-earnings ratio of -5.15, a price-to-earnings-growth ratio of 120.96 and a beta of 0.60.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $173.50 million. During the same period in the previous year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. equities research analysts expect that Wright Medical Group will post -0.27 earnings per share for the current fiscal year.

In related news, SVP Gregory Morrison sold 92,140 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $23.70, for a total value of $2,183,718.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard F. Wallman bought 4,000 shares of Wright Medical Group stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $24.00 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 92,440 shares of company stock valued at $2,191,103. 3.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System boosted its stake in Wright Medical Group by 8.1% in the 3rd quarter. California Public Employees Retirement System now owns 203,317 shares of the medical device company’s stock worth $5,260,000 after purchasing an additional 15,177 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Wright Medical Group during the 3rd quarter worth about $643,000. Jane Street Group LLC boosted its stake in shares of Wright Medical Group by 75.7% during the 3rd quarter. Jane Street Group LLC now owns 18,099 shares of the medical device company’s stock worth $468,000 after buying an additional 7,799 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Wright Medical Group during the 3rd quarter worth about $511,000. Finally, University of Notre Dame DU Lac boosted its stake in shares of Wright Medical Group by 1.3% during the 3rd quarter. University of Notre Dame DU Lac now owns 177,953 shares of the medical device company’s stock worth $4,604,000 after buying an additional 2,352 shares during the last quarter.

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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.

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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