Comerica Bank bought a new stake in Wright Medical Group NV (NASDAQ:WMGI) in the 4th quarter, Holdings Channel reports. The institutional investor bought 29,843 shares of the medical device company’s stock, valued at approximately $872,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMGI. FMR LLC grew its position in Wright Medical Group by 17.9% in the 3rd quarter. FMR LLC now owns 18,741,152 shares of the medical device company’s stock valued at $543,869,000 after acquiring an additional 2,845,681 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Wright Medical Group by 25.8% during the third quarter. Vanguard Group Inc. now owns 11,553,595 shares of the medical device company’s stock worth $317,015,000 after buying an additional 2,370,590 shares in the last quarter. Redmile Group LLC acquired a new position in shares of Wright Medical Group during the third quarter worth about $63,081,000. Marshall Wace LLP grew its position in shares of Wright Medical Group by 15,348.8% during the third quarter. Marshall Wace LLP now owns 1,768,579 shares of the medical device company’s stock worth $51,324,000 after buying an additional 1,757,131 shares in the last quarter. Finally, Vanguard Group Inc grew its position in shares of Wright Medical Group by 18.6% during the third quarter. Vanguard Group Inc now owns 10,891,023 shares of the medical device company’s stock worth $316,058,000 after buying an additional 1,708,018 shares in the last quarter.

A number of equities analysts have recently commented on the company. Cantor Fitzgerald boosted their price objective on Wright Medical Group from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 27th. Jefferies Financial Group boosted their price objective on Wright Medical Group to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective (up from $35.00) on shares of Wright Medical Group in a research report on Wednesday, February 27th. BidaskClub downgraded Wright Medical Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 27th. Finally, Credit Suisse Group boosted their price objective on Wright Medical Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.62.

In related news, Director David D. Stevens sold 4,975 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $31.46, for a total transaction of $156,513.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lance A. Berry sold 6,575 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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. In the last 90 days, insiders have sold 64,582 shares of company stock valued at $1,997,258. 4.00% of the stock is owned by company insiders.

WMGI stock opened at $31.89 on Friday. Wright Medical Group NV has a fifty-two week low of $19.01 and a fifty-two week high of $32.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.29.

Wright Medical Group (NASDAQ:WMGI) last posted its earnings results on Tuesday, February 26th. The medical device company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $238.15 million during the quarter, compared to analysts’ expectations of $237.86 million. Wright Medical Group had a positive return on equity of 0.02% and a negative net margin of 20.27%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that Wright Medical Group NV will post 0.21 EPS for the current year.

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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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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