Wright Medical Group (WMGI) Given a $34.00 Price Target at Oppenheimer

Wright Medical Group (NASDAQ:WMGI) received a $34.00 price target from equities researchers at Oppenheimer in a research note issued to investors on Wednesday, May 8th, Stock Target Advisor reports. The firm presently has a “hold” rating on the medical device company’s stock. Oppenheimer’s target price would suggest a potential upside of 10.68% from the stock’s current price.

WMGI has been the subject of a number of other reports. Jefferies Financial Group raised their price target on Wright Medical Group to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. BidaskClub raised Wright Medical Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 25th. Wells Fargo & Co reissued a “buy” rating on shares of Wright Medical Group in a research note on Monday, March 11th. Credit Suisse Group raised their price target on Wright Medical Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th. Finally, Cantor Fitzgerald raised their price target on Wright Medical Group from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $34.92.

NASDAQ WMGI opened at $30.72 on Wednesday. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 762.00, a PEG ratio of 8.98 and a beta of 0.97. Wright Medical Group has a 1-year low of $24.00 and a 1-year high of $32.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.70.

Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $230.13 million during the quarter, compared to analyst estimates of $226.10 million. Wright Medical Group had a positive return on equity of 0.84% and a negative net margin of 20.81%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. As a group, research analysts forecast that Wright Medical Group will post 0.23 EPS for the current fiscal year.

In related news, Director David D. Stevens sold 4,975 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $31.46, for a total transaction of $156,513.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Miclot sold 10,309 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $32.05, for a total value of $330,403.45. The disclosure for this sale can be found here. Insiders sold a total of 17,457 shares of company stock worth $557,539 over the last quarter. Company insiders own 3.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new stake in Wright Medical Group during the 1st quarter worth about $28,000. Advisors Asset Management Inc. acquired a new stake in Wright Medical Group during the 4th quarter worth about $30,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Wright Medical Group by 41.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,472 shares of the medical device company’s stock worth $46,000 after acquiring an additional 432 shares during the period. Exane Derivatives acquired a new stake in Wright Medical Group during the 4th quarter worth about $42,000. Finally, FTB Advisors Inc. lifted its position in Wright Medical Group by 94.9% during the 4th quarter. FTB Advisors Inc. now owns 1,604 shares of the medical device company’s stock worth $43,000 after acquiring an additional 781 shares during the period.

About Wright Medical Group

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.

See Also: Beige Book

Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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.