Wright Medical Group (NASDAQ:WMGI) Upgraded at ValuEngine

ValuEngine upgraded shares of Wright Medical Group (NASDAQ:WMGI) from a hold rating to a buy rating in a research note published on Friday morning, ValuEngine reports.

A number of other research firms also recently weighed in on WMGI. Bank of America downgraded shares of Wright Medical Group from a buy rating to a neutral rating and set a $25.00 price target on the stock. in a research note on Friday, August 9th. Oppenheimer reduced their price target on shares of Wright Medical Group from $34.00 to $29.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets reduced their price target on shares of Wright Medical Group from $36.00 to $30.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Co lowered shares of Wright Medical Group from an outperform rating to a market perform rating and dropped their price objective for the company from $28.00 to $23.00 in a report on Monday, August 12th. Finally, Piper Jaffray Companies lowered shares of Wright Medical Group from an overweight rating to a neutral rating in a report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $30.17.

WMGI opened at $29.30 on Friday. The company’s 50 day moving average is $21.81 and its 200-day moving average is $25.78. Wright Medical Group has a 1-year low of $19.04 and a 1-year high of $32.86. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.80. The company has a market cap of $3.72 billion, a P/E ratio of 326.67, a PEG ratio of 10.68 and a beta of 0.78.

In other news, Director Elizabeth H. Weatherman purchased 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $20.87 per share, for a total transaction of $313,050.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin D. Cordell sold 1,263 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $21.21, for a total transaction of $26,788.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,357 shares of company stock valued at $70,822. 3.80% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in WMGI. First Mercantile Trust Co. boosted its holdings in Wright Medical Group by 3.1% during the 2nd quarter. First Mercantile Trust Co. now owns 16,754 shares of the medical device company’s stock worth $500,000 after acquiring an additional 502 shares during the last quarter. FTB Advisors Inc. boosted its holdings in Wright Medical Group by 34.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,963 shares of the medical device company’s stock worth $40,000 after acquiring an additional 508 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Wright Medical Group by 1.5% during the 2nd quarter. AQR Capital Management LLC now owns 35,383 shares of the medical device company’s stock worth $1,055,000 after acquiring an additional 510 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Wright Medical Group by 2.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 67,079 shares of the medical device company’s stock worth $2,000,000 after acquiring an additional 1,649 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Wright Medical Group during the 2nd quarter worth $56,000.

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.

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Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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