State of Wisconsin Investment Board decreased its position in Wright Medical Group Inc (NASDAQ:WMGI) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,785 shares of the medical device company’s stock after selling 34,900 shares during the period. State of Wisconsin Investment Board owned 0.40% of Wright Medical Group worth $11,430,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Mcrae Capital Management Inc. raised its position in Wright Medical Group by 2.7% in the first quarter. Mcrae Capital Management Inc. now owns 9,457 shares of the medical device company’s stock worth $294,000 after buying an additional 250 shares during the period. Teacher Retirement System of Texas raised its position in Wright Medical Group by 6.8% in the second quarter. Teacher Retirement System of Texas now owns 7,884 shares of the medical device company’s stock worth $217,000 after buying an additional 502 shares during the period. First Mercantile Trust Co. raised its position in Wright Medical Group by 21.7% in the second quarter. First Mercantile Trust Co. now owns 4,380 shares of the medical device company’s stock worth $120,000 after buying an additional 780 shares during the period. Commerce Bank raised its position in Wright Medical Group by 7.4% in the first quarter. Commerce Bank now owns 18,837 shares of the medical device company’s stock worth $586,000 after buying an additional 1,300 shares during the period. Finally, Swiss National Bank raised its position in Wright Medical Group by 0.9% in the first quarter. Swiss National Bank now owns 153,794 shares of the medical device company’s stock worth $4,786,000 after buying an additional 1,400 shares during the period.

Shares of Wright Medical Group Inc (NASDAQ:WMGI) opened at 28.55 on Thursday. The firm’s market cap is $2.98 billion. The company’s 50 day moving average price is $27.56 and its 200 day moving average price is $28.14. Wright Medical Group Inc has a 12-month low of $20.50 and a 12-month high of $31.53.

Wright Medical Group (NASDAQ:WMGI) last posted its earnings results on Wednesday, August 2nd. The medical device company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Wright Medical Group had a negative net margin of 46.39% and a negative return on equity of 65.31%. The firm had revenue of $179.69 million for the quarter, compared to the consensus estimate of $178.17 million. During the same period in the previous year, the firm posted ($0.11) EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Wright Medical Group Inc will post ($0.29) EPS for the current year.

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A number of research firms have commented on WMGI. ValuEngine upgraded Wright Medical Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Wright Medical Group in a report on Thursday, May 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 target price on shares of Wright Medical Group in a report on Thursday, May 4th. BidaskClub raised Wright Medical Group from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $32.25.

In other news, insider Lance A. Berry sold 6,685 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $27.14, for a total value of $181,430.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jennifer S. Walker sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $28.00, for a total transaction of $560,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,655 shares of company stock worth $1,116,708. Insiders own 3.50% of the company’s stock.

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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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