UBS Maintains Wright Medical Group Inc to Buy with Price Target $28.00

Brokerage firm UBS Maintains its rating on Wright Medical Group Inc(NASDAQ:WMGI). In a research note issued to the investors, the brokerage major Lowers the price-target to $28.00 per share. The shares have been rated Buy. The rating by UBS was issued on Aug 3, 2016.

In a different note, On Jul 13, 2016, JP Morgan said it Upgrades its rating on Wright Medical Group Inc. In the research note, the firm Raises the price-target to $21.00 per share. The shares have been rated ‘Overweight’ by the firm. Guggenheim Securities said it Initiates Coverage on Wright Medical Group Inc, according to a research note issued on Jun 9, 2016. The shares have been rated ‘Buy’ by the firm.

Wright Medical Group Inc (WMGI) shares turned negative on Fridays trading session with the shares closing down -0.11 points or -0.46% at a volume of 18,40,994. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $24.31. The peak price level was also seen at $24.31 while the days lowest was $23.4401. Finally the shares closed at $24.03. The 52-week high of the shares is $25 while the 52-week low is $15.02. According to the latest information available, the market cap of the company is $2,475 M.

Wright Medical Group Inc(WMGI) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $170.72M. Analysts had an estimated revenue of $172.47M. Earnings per share were $-0.11. Analysts had estimated an EPS of $-0.22.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Jennifer S. Walker (SVP, Process Improvement) sold 1,167 shares at $19.34 per share price.Also, On Jun 3, 2016, Terry Rich (President, Upper Extremities) sold 2,237 shares at $19.35 per share price.On Jun 3, 2016, Julie D Tracy (SVP & Chief Communic. Officer) sold 3,277 shares at $19.38 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company’s business includes products that are used in foot and ankle repair upper extremity products and biologics products which are used to replace damaged or diseased bone to stimulate bone growth and to provide other biological solutions for surgeons and patients. The Company’s products include extremity hardware foot and ankle hardware upper extremity hardware and biologics.

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