Wright Medical Group NV (NASDAQ:WMGI) Given Consensus Rating of “Hold” by Brokerages

Wright Medical Group NV (NASDAQ:WMGI) has received an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $30.17.

A number of analysts have recently commented on the company. Credit Suisse Group cut Wright Medical Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, November 12th. Royal Bank of Canada cut Wright Medical Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $34.00 to $24.00 in a research report on Thursday, August 8th. Bank of America cut Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Friday, August 9th. BidaskClub upgraded Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer cut their price objective on Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.

In related news, SVP James Lightman sold 188,868 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $29.45, for a total transaction of $5,562,162.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of WMGI. Nuveen Asset Management LLC purchased a new stake in shares of Wright Medical Group during the second quarter worth approximately $58,939,000. BlackRock Inc. increased its position in shares of Wright Medical Group by 4.8% during the second quarter. BlackRock Inc. now owns 11,000,118 shares of the medical device company’s stock worth $328,024,000 after purchasing an additional 501,510 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Wright Medical Group by 39.4% during the second quarter. Eagle Asset Management Inc. now owns 1,469,232 shares of the medical device company’s stock worth $43,812,000 after purchasing an additional 415,455 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Wright Medical Group during the third quarter worth approximately $6,765,000. Finally, Carillon Tower Advisers Inc. increased its position in shares of Wright Medical Group by 38.4% during the second quarter. Carillon Tower Advisers Inc. now owns 1,046,373 shares of the medical device company’s stock worth $31,203,000 after purchasing an additional 290,208 shares in the last quarter.

NASDAQ:WMGI traded up $0.14 during trading hours on Thursday, reaching $29.59. The company had a trading volume of 3,035,000 shares, compared to its average volume of 2,543,407. Wright Medical Group has a 1-year low of $19.04 and a 1-year high of $32.86. The firm has a market cap of $3.74 billion, a PE ratio of 227.00, a price-to-earnings-growth ratio of 10.83 and a beta of 0.78. The business’s 50 day moving average price is $23.24 and its 200-day moving average price is $25.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.86 and a quick ratio of 0.60.

Wright Medical Group Company Profile

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.

Featured Article: What does an inverted yield curve signify?

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.