Wright Medical Group Target of Unusually Large Options Trading (WMGI)

Wright Medical Group Inc (NASDAQ:WMGI) saw some unusual options trading on Thursday. Traders purchased 2,054 call options on the company. This represents an increase of 2,208% compared to the average volume of 89 call options.

A number of equities research analysts have issued reports on WMGI shares. TheStreet cut Wright Medical Group from a “c-” rating to a “d+” rating in a research note on Wednesday, December 27th. ValuEngine cut Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. BidaskClub cut Wright Medical Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Wright Medical Group in a research note on Friday, January 5th. Finally, Barclays reiterated an “overweight” rating and issued a $25.00 target price (down from $27.00) on shares of Wright Medical Group in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Wright Medical Group has a consensus rating of “Hold” and an average target price of $29.38.

Shares of WMGI stock opened at $19.27 on Friday. Wright Medical Group has a one year low of $19.04 and a one year high of $31.53. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.42. The firm has a market cap of $2,092.71, a PE ratio of -9.88 and a beta of 0.68.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Tuesday, February 27th. The medical device company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. Wright Medical Group had a negative net margin of 27.19% and a negative return on equity of 3.78%. The business had revenue of $217.60 million for the quarter, compared to analysts’ expectations of $215.69 million. research analysts predict that Wright Medical Group will post -0.18 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of WMGI. SG Americas Securities LLC bought a new stake in shares of Wright Medical Group during the third quarter valued at about $1,631,000. Macquarie Group Ltd. raised its stake in shares of Wright Medical Group by 13.4% during the third quarter. Macquarie Group Ltd. now owns 1,389,355 shares of the medical device company’s stock valued at $35,943,000 after purchasing an additional 164,003 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Wright Medical Group during the third quarter valued at about $577,000. American International Group Inc. raised its stake in shares of Wright Medical Group by 8.1% during the third quarter. American International Group Inc. now owns 70,114 shares of the medical device company’s stock valued at $1,814,000 after purchasing an additional 5,242 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Wright Medical Group by 20.1% during the third quarter. Legal & General Group Plc now owns 44,134 shares of the medical device company’s stock valued at $1,141,000 after purchasing an additional 7,382 shares in the last quarter.

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About Wright Medical Group

Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.

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