Shares of Wright Medical Group Inc. (NASDAQ:WMGI) have earned an average rating of “Buy” from the sixteen brokerages that are currently covering the stock. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.55.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Wright Medical Group from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, August 8th. Leerink Swann restated an “outperform” rating and set a $27.00 price objective (up from $25.00) on shares of Wright Medical Group in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $26.00 price objective on shares of Wright Medical Group and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Barclays PLC restated a “buy” rating and set a $33.00 price objective on shares of Wright Medical Group in a research report on Thursday, November 3rd. Finally, Jefferies Group restated a “buy” rating and set a $29.00 price objective on shares of Wright Medical Group in a research report on Monday, August 15th.

Hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its stake in shares of Wright Medical Group by 15.1% in the third quarter. US Bancorp DE now owns 5,686 shares of the medical device company’s stock worth $140,000 after buying an additional 746 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Wright Medical Group by 139.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,987 shares of the medical device company’s stock worth $104,000 after buying an additional 3,488 shares during the period. Cutler Group LP boosted its stake in shares of Wright Medical Group by 109.3% in the third quarter. Cutler Group LP now owns 6,446 shares of the medical device company’s stock worth $158,000 after buying an additional 75,646 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of Wright Medical Group during the third quarter worth approximately $185,000. Finally, Strs Ohio boosted its stake in shares of Wright Medical Group by 251.7% in the third quarter. Strs Ohio now owns 10,200 shares of the medical device company’s stock worth $250,000 after buying an additional 7,300 shares during the period.

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Shares of Wright Medical Group (NASDAQ:WMGI) traded down 1.74% on Wednesday, reaching $23.15. The company’s stock had a trading volume of 111,958 shares. The company’s market cap is $2.39 billion. The firm has a 50 day moving average of $23.10 and a 200 day moving average of $21.93. Wright Medical Group has a 52-week low of $15.02 and a 52-week high of $25.50.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, November 2nd. The medical device company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. The business earned $157.30 million during the quarter, compared to analysts’ expectations of $157.64 million. Wright Medical Group had a negative return on equity of 6.48% and a negative net margin of 71.90%. The firm’s revenue for the quarter was up 96.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.51) earnings per share. Analysts predict that Wright Medical Group will post ($0.49) earnings per share for the current year.

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.

5 Day Chart for NASDAQ:WMGI

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