Brokerages Set Wright Medical Group NV (NASDAQ:WMGI) PT at $35.45

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Wright Medical Group NV (NASDAQ:WMGI) has been given an average rating of “Buy” by the fourteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $35.45.

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Wright Medical Group in a report on Wednesday, April 10th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Oppenheimer lowered their price target on shares of 2U from $83.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Finally, BidaskClub raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th.

WMGI stock traded up $0.25 on Friday, reaching $27.14. 1,803,500 shares of the company were exchanged, compared to its average volume of 1,459,567. Wright Medical Group has a 12 month low of $24.10 and a 12 month high of $32.86. The company has a fifty day simple moving average of $29.36. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 663.25, a PEG ratio of 8.06 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Tuesday, May 7th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm had revenue of $230.13 million for the quarter, compared to analyst estimates of $226.10 million. Wright Medical Group had a negative net margin of 20.81% and a positive return on equity of 0.84%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. On average, sell-side analysts anticipate that Wright Medical Group will post 0.22 earnings per share for the current fiscal year.

In other news, EVP Kevin D. Cordell sold 2,685 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $30.47, for a total value of $81,811.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew C. Morton sold 2,173 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $32.50, for a total transaction of $70,622.50. The disclosure for this sale can be found here. Insiders sold a total of 12,626 shares of company stock worth $389,339 in the last 90 days. 3.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WMGI. BlackRock Inc. lifted its position in Wright Medical Group by 15.4% during the 1st quarter. BlackRock Inc. now owns 10,498,608 shares of the medical device company’s stock worth $330,182,000 after buying an additional 1,397,279 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Wright Medical Group during the 1st quarter worth about $33,141,000. Norges Bank acquired a new position in Wright Medical Group during the 4th quarter worth about $27,834,000. OppenheimerFunds Inc. lifted its position in Wright Medical Group by 144.3% during the 1st quarter. OppenheimerFunds Inc. now owns 1,500,702 shares of the medical device company’s stock worth $47,197,000 after buying an additional 886,324 shares in the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new position in Wright Medical Group during the 1st quarter worth about $23,781,000.

Wright Medical Group Company Profile

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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