Wright Medical Group NV (WMGI) Receives $32.64 Average PT from Brokerages

Wright Medical Group NV (NASDAQ:WMGI) has received an average rating of “Buy” from the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.64.

Several brokerages have recently commented on WMGI. Needham & Company LLC upped their price objective on shares of Wright Medical Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, October 25th. Oppenheimer set a $30.00 price objective on shares of Wright Medical Group and gave the company a “hold” rating in a research note on Thursday, November 8th. Wells Fargo & Co upped their price objective on shares of Wright Medical Group from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. Piper Jaffray Companies upped their price objective on shares of Wright Medical Group to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 8th. Finally, Jefferies Financial Group upped their price objective on shares of Wright Medical Group from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 8th.

Wright Medical Group stock traded up $0.52 during mid-day trading on Tuesday, hitting $31.87. The company’s stock had a trading volume of 2,080,156 shares, compared to its average volume of 1,718,150. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.87 billion, a PE ratio of -144.86, a P/E/G ratio of 12.37 and a beta of 1.03. Wright Medical Group has a 12 month low of $19.01 and a 12 month high of $32.05.

In related news, Director Kevin C. Oboyle sold 32,723 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $30.06, for a total transaction of $983,653.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth H. Weatherman sold 15,949 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $28.63, for a total transaction of $456,619.87. The disclosure for this sale can be found here. Insiders have sold 57,672 shares of company stock worth $1,688,853 in the last quarter. 4.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WMGI. Advisors Asset Management Inc. purchased a new stake in Wright Medical Group in the fourth quarter worth about $30,000. Exane Derivatives purchased a new stake in Wright Medical Group in the fourth quarter worth about $42,000. FTB Advisors Inc. grew its holdings in Wright Medical Group by 94.9% in the fourth quarter. FTB Advisors Inc. now owns 1,604 shares of the medical device company’s stock worth $43,000 after purchasing an additional 781 shares during the period. First Quadrant L P CA purchased a new stake in Wright Medical Group in the fourth quarter worth about $72,000. Finally, IFP Advisors Inc purchased a new stake in Wright Medical Group in the fourth quarter worth about $75,000.

About Wright Medical Group

Wright Medical Group NV operates as a global medical device company, which engages in the design, manufacture, and distribution of biologic products. It provides surgical solutions for the foot and ankle market and its products include large joint implants for the hip and knee, extremity implants for the shoulder, elbow, hand, wrist and foot and biologic products, including bone graft substitutes.

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Analyst Recommendations for Wright Medical Group (NASDAQ:WMGI)

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