Wright Medical Group Inc. (NASDAQ:WMGI) traded down 2.2% during mid-day trading on Friday . The company traded as low as $20.94 and last traded at $21.03, with a volume of 1,044,268 shares traded. The stock had previously closed at $21.51.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Wright Medical Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $26.00 in a report on Wednesday. Piper Jaffray Cos. upgraded shares of Wright Medical Group from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Wednesday. Zacks Investment Research cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a report on Wednesday. Leerink Swann restated an “outperform” rating and set a $25.00 price target on shares of Wright Medical Group in a report on Tuesday, July 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $24.00 price target on shares of Wright Medical Group in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $24.87.

The firm’s market capitalization is $2.16 billion. The stock has a 50-day moving average of $18.71 and a 200-day moving average of $18.67.

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, beating the consensus estimate of ($0.25) by $0.19. The business earned $181.02 million during the quarter, compared to analyst estimates of $170.95 million. The firm’s quarterly revenue was up 132.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. On average, equities research analysts expect that Wright Medical Group Inc. will post ($0.61) EPS for the current fiscal year.

In other Wright Medical Group news, insider Kevin D. Cordell sold 1,652 shares of Wright Medical Group stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $19.34, for a total value of $31,949.68. Following the sale, the insider now directly owns 27,475 shares in the company, valued at approximately $531,366.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sean Carney sold 6,221,809 shares of Wright Medical Group stock in a transaction on Friday, May 27th. The shares were sold at an average price of $18.39, for a total transaction of $114,419,067.51. Following the completion of the sale, the director now owns 32,814 shares in the company, valued at $603,449.46. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. American Capital Management Inc. raised its position in Wright Medical Group by 17.1% in the fourth quarter. American Capital Management Inc. now owns 55,897 shares of the medical device company’s stock valued at $1,352,000 after buying an additional 8,173 shares in the last quarter. J. Goldman & Co LP purchased a new position in Wright Medical Group during the fourth quarter valued at $1,285,000. TSP Capital Management Group LLC purchased a new position in Wright Medical Group during the fourth quarter valued at $1,006,000. State Board of Administration of Florida Retirement System raised its position in Wright Medical Group by 50.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 77,908 shares of the medical device company’s stock valued at $1,884,000 after buying an additional 26,122 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Wright Medical Group by 76.4% in the fourth quarter. California State Teachers Retirement System now owns 165,377 shares of the medical device company’s stock valued at $3,999,000 after buying an additional 71,600 shares in 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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