Wright Medical Group (WMGI) Stock Rating Lowered by ValuEngine

Wright Medical Group (NASDAQ:WMGI) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Wednesday.

A number of other brokerages have also issued reports on WMGI. BidaskClub upgraded shares of Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. 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, January 8th. TheStreet lowered shares of Wright Medical Group from a “c-” rating to a “d+” rating in a research report on Wednesday, December 27th. Barclays restated an “overweight” rating and set a $25.00 target price (down from $27.00) on shares of Wright Medical Group in a research report on Wednesday, February 28th. Finally, BMO Capital Markets lowered their target price on shares of Wright Medical Group from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $29.38.

WMGI stock opened at $19.80 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.96 and a current ratio of 1.37. Wright Medical Group has a twelve month low of $19.04 and a twelve month high of $30.91. The company has a market cap of $2,049.29, a price-to-earnings ratio of -90.00 and a beta of 0.66.



Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data on Tuesday, February 27th. The medical device company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The company had revenue of $217.60 million for the quarter, compared to analysts’ expectations of $215.69 million. Wright Medical Group had a negative net margin of 27.19% and a negative return on equity of 3.78%. analysts predict that Wright Medical Group will post -0.18 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. Endurant Capital Management LP grew its position in Wright Medical Group by 670.7% in the 4th quarter. Endurant Capital Management LP now owns 305,200 shares of the medical device company’s stock valued at $6,775,000 after buying an additional 265,600 shares during the last quarter. Iguana Healthcare Management LLC purchased a new position in Wright Medical Group in the 4th quarter valued at $444,000. Palo Alto Investors LLC grew its position in Wright Medical Group by 2.2% in the 4th quarter. Palo Alto Investors LLC now owns 2,736,293 shares of the medical device company’s stock valued at $60,746,000 after buying an additional 59,900 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in Wright Medical Group in the 4th quarter valued at $19,086,000. Finally, Macquarie Group Ltd. grew its position in Wright Medical Group by 11.2% in the 4th quarter. Macquarie Group Ltd. now owns 1,545,448 shares of the medical device company’s stock valued at $34,309,000 after buying an additional 156,093 shares during the last quarter.

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About Wright Medical Group

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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