Wright Medical Group (NASDAQ:WMGI) has been assigned a $30.00 price objective by equities research analysts at Cantor Fitzgerald in a note issued to investors on Monday. The firm currently has a “buy” rating on the medical device company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 25.05% from the company’s previous close. Cantor Fitzgerald also issued estimates for Wright Medical Group’s FY2017 earnings at $0.27 EPS and FY2018 earnings at $0.06 EPS.

Several other research analysts have also commented on the stock. TheStreet lowered shares of Wright Medical Group from a “c-” rating to a “d+” rating in a report on Wednesday, December 27th. BidaskClub lowered shares of Wright Medical Group from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. ValuEngine lowered shares of Wright Medical Group from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Jefferies Group restated a “buy” rating on shares of Wright Medical Group in a report on Friday, November 3rd. Finally, Royal Bank of Canada restated a “buy” rating and issued a $30.00 price objective on shares of Wright Medical Group in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Wright Medical Group has an average rating of “Buy” and a consensus target price of $31.89.

Wright Medical Group (NASDAQ:WMGI) traded down $0.63 during trading hours on Monday, reaching $23.99. 644,500 shares of the company were exchanged, compared to its average volume of 877,567. Wright Medical Group has a 52 week low of $22.00 and a 52 week high of $31.53. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 1.52. The company has a market cap of $1,230.00, a price-to-earnings ratio of -5.06, a P/E/G ratio of 120.96 and a beta of 0.60.

Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Wright Medical Group had a negative net margin of 38.40% and a negative return on equity of 6.27%. The company had revenue of $170.50 million during the quarter, compared to analyst estimates of $173.50 million. During the same period in the prior year, the business posted ($0.19) EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. research analysts predict that Wright Medical Group will post -0.27 EPS for the current fiscal year.

In other Wright Medical Group news, Director Richard F. Wallman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $24.00 per share, for a total transaction of $96,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Gregory Morrison sold 92,140 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $23.70, for a total transaction of $2,183,718.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,440 shares of company stock valued at $2,191,103. 3.50% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Wright Medical Group by 5.7% in the 2nd quarter. FMR LLC now owns 15,644,806 shares of the medical device company’s stock worth $430,075,000 after acquiring an additional 845,909 shares in the last quarter. Vanguard Group Inc. grew its position in Wright Medical Group by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 8,232,880 shares of the medical device company’s stock valued at $226,321,000 after purchasing an additional 145,930 shares during the last quarter. Fisher Asset Management LLC grew its position in Wright Medical Group by 20.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,890,789 shares of the medical device company’s stock valued at $74,785,000 after purchasing an additional 500,583 shares during the last quarter. Capital Research Global Investors grew its position in Wright Medical Group by 60.9% during the 2nd quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock valued at $76,285,000 after purchasing an additional 1,050,000 shares during the last quarter. Finally, Palo Alto Investors LLC grew its position in Wright Medical Group by 1.8% during the 2nd quarter. Palo Alto Investors LLC now owns 2,676,393 shares of the medical device company’s stock valued at $73,574,000 after purchasing an additional 48,200 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.

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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