BMO Capital Markets Increases Wright Medical Group (WMGI) Price Target to $36.00
Wright Medical Group (NASDAQ:WMGI) had its price target boosted by BMO Capital Markets from $33.00 to $36.00 in a research note published on Thursday, The Fly reports. The firm currently has an outperform rating on the medical device company’s stock.
Other analysts have also recently issued research reports about the company. Jefferies Financial Group upped their price objective on Wright Medical Group to $40.00 and gave the company a buy rating in a research report on Wednesday, February 27th. Needham & Company LLC reiterated a buy rating and set a $38.00 price objective (up previously from $35.00) on shares of Wright Medical Group in a research report on Wednesday, February 27th. BidaskClub cut Wright Medical Group from a strong-buy rating to a buy rating in a research report on Wednesday, February 27th. Cantor Fitzgerald set a $35.00 price objective on Wright Medical Group and gave the company a buy rating in a research report on Monday, January 14th. Finally, Wells Fargo & Co reiterated a buy rating on shares of Wright Medical Group in a research report on Monday, March 11th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $34.62.
Wright Medical Group stock opened at $32.33 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.29 and a quick ratio of 0.90. Wright Medical Group has a one year low of $19.01 and a one year high of $32.86.
In other Wright Medical Group news, Director Kevin C. Oboyle sold 32,723 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $30.06, for a total transaction of $983,653.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Lance A. Berry sold 6,575 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.43, for a total value of $206,652.25. The disclosure for this sale can be found here. Insiders have sold 64,582 shares of company stock valued at $1,997,258 in the last three months. 4.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in shares of Wright Medical Group in the fourth quarter worth about $30,000. Exane Derivatives bought a new position in shares of Wright Medical Group in the fourth quarter worth about $42,000. FTB Advisors Inc. boosted its stake in shares of 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 acquiring an additional 781 shares during the period. First Quadrant L P CA bought a new position in shares of Wright Medical Group in the fourth quarter worth about $72,000. Finally, IFP Advisors Inc bought a new position in shares of Wright Medical Group in the fourth quarter worth about $75,000.
Wright Medical Group Company Profile
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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