Wright Medical Group Inc. (NASDAQ:WMGI) gapped up prior to trading on Thursday . The stock had previously closed at $24.37, but opened at $24.44. Wright Medical Group shares last traded at $24.67, with a volume of 268,518 shares trading hands.

A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating on shares of Wright Medical Group in a research note on Saturday, May 14th. Wells Fargo & Co. upgraded Wright Medical Group from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 5th. Zacks Investment Research upgraded Wright Medical Group from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, May 3rd. Piper Jaffray Cos. upgraded Wright Medical Group from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research note on Wednesday, July 13th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Wright Medical Group in a research note on Monday, May 16th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Wright Medical Group has an average rating of “Buy” and a consensus target price of $25.60.

The company’s market cap is $2.54 billion. The firm has a 50-day moving average price of $22.09 and a 200 day moving average price of $18.94.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Tuesday, August 2nd. The medical device company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. During the same period in the prior year, the firm earned ($0.71) EPS. The company earned $170 million during the quarter, compared to analyst estimates of $172.81 million. Wright Medical Group’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts expect that Wright Medical Group Inc. will post ($0.49) earnings per share for the current fiscal year.

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

Other institutional investors have bought and sold shares of the company. Nicholas Co. Inc. WI acquired a new position in Wright Medical Group during the fourth quarter worth approximately $3,167,000. Trexquant Investment LP acquired a new position in Wright Medical Group during the fourth quarter worth approximately $1,023,000. Wells Fargo & Company MN raised its position in 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 in the last quarter. Morgan Stanley raised its position in Wright Medical Group by 12.9% in the fourth quarter. Morgan Stanley now owns 515,969 shares of the medical device company’s stock worth $12,476,000 after buying an additional 58,907 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Wright Medical Group by 87.7% in the fourth quarter. New York State Common Retirement Fund now owns 88,048 shares of the medical device company’s stock worth $2,129,000 after buying an additional 41,148 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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