Wright Medical Group (WMGI) PT Set at $28.00 by Oppenheimer
Oppenheimer set a $28.00 target price on Wright Medical Group (NASDAQ:WMGI) in a research report report published on Thursday. The brokerage currently has a hold rating on the medical device company’s stock.
A number of other analysts have also recently weighed in on WMGI. Cantor Fitzgerald raised their price objective on shares of Wright Medical Group from $30.00 to $35.00 and gave the stock an overweight rating in a report on Thursday. Leerink Swann raised their price objective on shares of Wright Medical Group from $27.00 to $32.00 and gave the stock an outperform rating in a report on Thursday, June 21st. TheStreet raised shares of Wright Medical Group from a d+ rating to a c- rating in a report on Wednesday, June 13th. ValuEngine raised shares of Wright Medical Group from a strong sell rating to a sell rating in a report on Friday, May 11th. Finally, BMO Capital Markets reissued a market perform rating and set a $25.00 price objective on shares of Wright Medical Group in a report on Tuesday, July 10th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $30.30.
Shares of NASDAQ:WMGI opened at $28.07 on Thursday. The company has a market capitalization of $2.98 billion, a P/E ratio of -127.59 and a beta of 0.90. Wright Medical Group has a fifty-two week low of $19.01 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.95 and a current ratio of 1.42.
In other news, CFO Lance A. Berry sold 6,683 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $24.61, for a total transaction of $164,468.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert P. Burrows III sold 2,681 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $24.61, for a total transaction of $65,979.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,888 shares of company stock worth $1,777,201. Insiders own 4.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio grew its position in shares of Wright Medical Group by 850.0% during the second quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock worth $147,000 after acquiring an additional 5,100 shares during the last quarter. Cortina Asset Management LLC purchased a new position in shares of Wright Medical Group during the second quarter worth approximately $221,000. Jane Street Group LLC purchased a new position in shares of Wright Medical Group during the first quarter worth approximately $235,000. A.R.T. Advisors LLC purchased a new position in shares of Wright Medical Group during the first quarter worth approximately $258,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Wright Medical Group during the first quarter worth approximately $270,000.
About Wright Medical Group
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. 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.
Further Reading: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Wright Medical Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wright Medical Group and related companies with MarketBeat.com's FREE daily email newsletter.