BidaskClub Downgrades Wright Medical Group (NASDAQ:WMGI) to Sell

BidaskClub downgraded shares of Wright Medical Group (NASDAQ:WMGI) from a hold rating to a sell rating in a report issued on Saturday, BidAskClub reports.

Several other research analysts have also issued reports on the company. Robert W. Baird lowered Wright Medical Group from an outperform rating to a neutral rating and boosted their target price for the company from $28.00 to $31.00 in a research report on Monday, November 11th. ValuEngine lowered Wright Medical Group from a buy rating to a hold rating in a research report on Friday, November 29th. Wells Fargo & Co restated a hold rating on shares of Wright Medical Group in a research report on Friday, December 6th. TheStreet upgraded Wright Medical Group from a d+ rating to a c- rating in a research report on Monday, November 18th. Finally, Leerink Swann lowered Wright Medical Group from an outperform rating to a market perform rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $29.05.

WMGI opened at $30.40 on Friday. The firm has a market cap of $3.86 billion, a P/E ratio of 234.23, a P/E/G ratio of 4.74 and a beta of 0.94. Wright Medical Group has a 12 month low of $19.04 and a 12 month high of $32.86. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $30.07 and a 200 day moving average of $25.50.

Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings results on Friday, November 8th. The medical device company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $212.43 million during the quarter, compared to analyst estimates of $208.20 million. Wright Medical Group had a positive return on equity of 1.89% and a negative net margin of 14.49%. On average, research analysts forecast that Wright Medical Group will post 0.18 earnings per share for the current fiscal year.

In other news, SVP James Lightman sold 188,868 shares of Wright Medical Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $29.45, for a total transaction of $5,562,162.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Julie Andrews sold 7,001 shares of Wright Medical Group stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $30.10, for a total transaction of $210,730.10. The disclosure for this sale can be found here. Insiders have sold 488,913 shares of company stock valued at $14,417,744 in the last 90 days. Company insiders own 3.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of WMGI. FTB Advisors Inc. raised its stake in shares of Wright Medical Group by 34.9% during the third quarter. FTB Advisors Inc. now owns 1,963 shares of the medical device company’s stock valued at $40,000 after acquiring an additional 508 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Wright Medical Group by 13,009.1% during the third quarter. Tower Research Capital LLC TRC now owns 2,884 shares of the medical device company’s stock valued at $59,000 after acquiring an additional 2,862 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Wright Medical Group during the third quarter valued at approximately $119,000. Nisa Investment Advisors LLC raised its stake in shares of Wright Medical Group by 761.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,675 shares of the medical device company’s stock valued at $138,000 after acquiring an additional 5,900 shares in the last quarter. Finally, Vishria Bird Financial Group LLC bought a new stake in shares of Wright Medical Group during the fourth quarter valued at approximately $225,000.

About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. 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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Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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