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

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

Several other brokerages also recently commented on WMGI. Leerink Swann downgraded Wright Medical Group from an outperform rating to a market perform rating in a research note on Wednesday, November 27th. Credit Suisse Group downgraded Wright Medical Group from an outperform rating to a neutral rating in a research note on Tuesday, November 12th. Svb Leerink downgraded Wright Medical Group from an outperform rating to a market perform rating in a research note on Monday, November 18th. Wells Fargo & Co reiterated a hold rating on shares of Wright Medical Group in a research note on Friday, December 6th. Finally, TheStreet upgraded Wright Medical Group from a d+ rating to a c- rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $29.05.

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

Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings results on Friday, November 8th. The medical device company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Wright Medical Group had a positive return on equity of 1.89% and a negative net margin of 14.49%. The company had revenue of $212.43 million for the quarter, compared to the consensus estimate of $208.20 million. As a group, equities analysts expect that Wright Medical Group will post 0.18 EPS for the current year.

In other news, SVP Julie Andrews sold 7,001 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $30.10, for a total value of $210,730.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tim Lanier sold 46,917 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $29.49, for a total value of $1,383,582.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 488,913 shares of company stock worth $14,417,744. Company insiders own 3.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in WMGI. FTB Advisors Inc. boosted its stake in shares of Wright Medical Group by 34.9% in the 3rd quarter. FTB Advisors Inc. now owns 1,963 shares of the medical device company’s stock worth $40,000 after buying an additional 508 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Wright Medical Group by 13,009.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,884 shares of the medical device company’s stock worth $59,000 after buying an additional 2,862 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Wright Medical Group in the 3rd quarter worth $119,000. Nisa Investment Advisors LLC boosted its stake in shares of Wright Medical Group by 761.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,675 shares of the medical device company’s stock worth $138,000 after buying an additional 5,900 shares during the last quarter. Finally, Vishria Bird Financial Group LLC purchased a new position in shares of Wright Medical Group in the 4th quarter worth $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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