State Board of Administration of Florida Retirement System increased its stake in shares of Wright Medical Group Inc. (NASDAQ:WMGI) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 78,020 shares of the medical device company’s stock after buying an additional 112 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.08% of Wright Medical Group worth $1,355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WMGI. BlackRock Inc. boosted its stake in Wright Medical Group by 123.0% in the first quarter. BlackRock Inc. now owns 6,052 shares of the medical device company’s stock worth $100,000 after buying an additional 3,338 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in 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 last quarter. Fairfield Bush & CO. boosted its stake in Wright Medical Group by 3.5% in the first quarter. Fairfield Bush & CO. now owns 11,075 shares of the medical device company’s stock worth $184,000 after buying an additional 378 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Wright Medical Group during the first quarter worth about $184,000. Finally, Bayesian Capital Management LP acquired a new stake in Wright Medical Group during the first quarter worth about $320,000.

Shares of Wright Medical Group Inc. (NASDAQ:WMGI) traded down 0.94% during trading on Friday, hitting $23.07. The stock had a trading volume of 2,839,258 shares. The company’s market cap is $2.37 billion. Wright Medical Group Inc. has a 1-year low of $15.02 and a 1-year high of $25.50. The firm’s 50 day moving average is $23.89 and its 200 day moving average is $19.79.

Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Tuesday, August 2nd. The medical device company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.11. Wright Medical Group had a negative return on equity of 7.86% and a negative net margin of 79.16%. The firm had revenue of $170 million for the quarter, compared to the consensus estimate of $172.81 million. During the same quarter in the previous year, the business earned ($0.71) EPS. The company’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Wright Medical Group Inc. will post ($0.49) EPS for the current fiscal year.

A number of research firms have recently issued reports on WMGI. Piper Jaffray Cos. raised Wright Medical Group from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research report on Wednesday, July 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Wright Medical Group in a research report on Monday, July 11th. Leerink Swann reaffirmed an “outperform” rating and issued a $27.00 price objective (up from $25.00) on shares of Wright Medical Group in a research report on Wednesday, August 3rd. Zacks Investment Research raised Wright Medical Group from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. set a $26.00 price objective on Wright Medical Group and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $25.14.

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.

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