Oppenheimer set a $28.00 price target on Wright Medical Group (NASDAQ:WMGI) in a research report report published on Thursday. The brokerage currently has a hold rating on the medical device company’s stock.

Several other brokerages have also weighed in on WMGI. ValuEngine raised shares of Wright Medical Group from a sell rating to a hold rating in a research note on Tuesday, May 29th. Leerink Swann increased their target price on shares of Wright Medical Group from $27.00 to $32.00 and gave the stock an outperform rating in a research note on Thursday, June 21st. Cantor Fitzgerald increased their target price on shares of Wright Medical Group from $30.00 to $35.00 and gave the stock an overweight rating in a research note on Thursday. TheStreet raised shares of Wright Medical Group from a d+ rating to a c- rating in a research note on Wednesday, June 13th. Finally, BidaskClub lowered shares of Wright Medical Group from a sell rating to a strong sell rating in a research note on Friday, April 13th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Wright Medical Group presently has an average rating of Buy and a consensus target price of $30.30.

Shares of Wright Medical Group opened at $28.07 on Thursday, MarketBeat.com reports. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 1.46. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -127.59 and a beta of 0.90. Wright Medical Group has a 1-year low of $19.01 and a 1-year high of $29.89.

Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Wednesday, August 8th. The medical device company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The company had revenue of $205.40 million during the quarter, compared to analyst estimates of $197.20 million. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. Wright Medical Group’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. equities research analysts anticipate that Wright Medical Group will post -0.15 earnings per share for the current fiscal year.

In other news, SVP Jennifer S. Walker sold 42,654 shares of the stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $26.03, for a total transaction of $1,110,283.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Julie Andrews sold 1,466 shares of the stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $24.62, for a total transaction of $36,092.92. The disclosure for this sale can be found here. Insiders have sold 67,888 shares of company stock worth $1,777,201 in the last three months. Corporate insiders own 4.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank raised its holdings in Wright Medical Group by 14.9% in the second quarter. Amalgamated Bank now owns 16,232 shares of the medical device company’s stock valued at $421,000 after acquiring an additional 2,102 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Wright Medical Group by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 645,664 shares of the medical device company’s stock valued at $12,810,000 after acquiring an additional 2,936 shares in the last quarter. Rhumbline Advisers raised its holdings in Wright Medical Group by 4.5% in the second quarter. Rhumbline Advisers now owns 99,783 shares of the medical device company’s stock valued at $2,590,000 after acquiring an additional 4,294 shares in the last quarter. US Bancorp DE raised its holdings in Wright Medical Group by 22.8% in the first quarter. US Bancorp DE now owns 27,186 shares of the medical device company’s stock valued at $540,000 after acquiring an additional 5,050 shares in the last quarter. Finally, Strs Ohio raised its holdings in Wright Medical Group by 850.0% in the second quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock valued at $147,000 after acquiring an additional 5,100 shares in the last quarter.

About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. 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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