Wright Medical Group Inc. (NASDAQ:WMGI) shares rose 3.6% during trading on Wednesday . The company traded as high as $21.70 and last traded at $21.25, with a volume of 2,167,346 shares changing hands. The stock had previously closed at $20.52.

WMGI has been the topic of a number of analyst reports. Jefferies Group reissued a “buy” rating and set a $29.00 price objective on shares of Wright Medical Group in a report on Thursday, May 5th. Needham & Company LLC increased their price objective on Wright Medical Group from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Zacks Investment Research raised Wright Medical Group from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, May 3rd. Bank of America Corp. initiated coverage on Wright Medical Group in a report on Monday, April 11th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Guggenheim initiated coverage on Wright Medical Group in a report on Wednesday, June 8th. They set a “buy” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $24.87.

The company’s 50 day moving average is $18.54 and its 200-day moving average is $18.65. The stock’s market capitalization is $2.20 billion.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.19. The company had revenue of $181.02 million for the quarter, compared to analyst estimates of $170.95 million. During the same period in the prior year, the company earned ($0.51) EPS. The company’s quarterly revenue was up 132.4% compared to the same quarter last year. Equities analysts predict that Wright Medical Group Inc. will post ($0.61) earnings per share for the current fiscal year.

In other Wright Medical Group news, insider Kevin D. Cordell sold 1,652 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $19.34, for a total transaction of $31,949.68. Following the completion of the sale, the insider now directly owns 27,475 shares in the company, valued at $531,366.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lance A. Berry sold 4,432 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $19.40, for a total value of $85,980.80. Following the sale, the chief financial officer now owns 94,123 shares of the company’s stock, valued at $1,825,986.20. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in WMGI. Dimensional Fund Advisors LP boosted its position in shares of Wright Medical Group by 59.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 874,411 shares of the medical device company’s stock worth $21,142,000 after buying an additional 327,139 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Wright Medical Group by 78.0% in the fourth quarter. Wells Fargo & Company MN now owns 701,546 shares of the medical device company’s stock worth $16,963,000 after buying an additional 307,319 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Wright Medical Group by 153.1% in the fourth quarter. State of Wisconsin Investment Board now owns 506,179 shares of the medical device company’s stock worth $12,239,000 after buying an additional 306,179 shares during the last quarter. Columbus Circle Investors purchased a new position in shares of Wright Medical Group during the fourth quarter worth approximately $5,193,000. Finally, Columbia Wanger Asset Management LLC boosted its position in shares of Wright Medical Group by 7.8% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 2,679,268 shares of the medical device company’s stock worth $64,785,000 after buying an additional 193,119 shares during the last quarter.

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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