Wright Medical Group Inc. (NASDAQ:WMGI) shares reached a new 52-week high during trading on Monday . The company traded as high as $25.27 and last traded at $24.97, with a volume of 592,604 shares. The stock had previously closed at $24.73.

WMGI has been the topic of a number of research analyst reports. Zacks Investment Research raised Wright Medical Group from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Wright Medical Group in a research note on Monday, July 11th. Jefferies Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Wright Medical Group in a research note on Thursday, May 5th. Guggenheim initiated coverage on Wright Medical Group in a research note on Wednesday, June 8th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Wright Medical Group in a research note on Monday, May 16th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Wright Medical Group currently has a consensus rating of “Buy” and an average target price of $25.60.

The firm’s market capitalization is $2.56 billion. The stock’s 50-day moving average price is $22.09 and its 200-day moving average price is $18.94.

Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Tuesday, August 2nd. The medical device company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.11. The firm earned $170 million during the quarter, compared to analysts’ expectations of $172.81 million. The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.71) EPS. On average, equities analysts expect that Wright Medical Group Inc. will post ($0.49) earnings per share for the current year.

In related news, CFO Lance A. Berry sold 4,432 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 94,123 shares of the company’s stock, valued at $1,825,986.20. 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 stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 27,475 shares of the company’s stock, valued at approximately $531,366.50. The disclosure for this sale can be found here.

Other large investors recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake 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 valued at $16,963,000 after buying an additional 307,319 shares in the last quarter. Nicholas Co. Inc. WI bought a new stake in Wright Medical Group during the fourth quarter valued at approximately $3,167,000. Morgan Stanley boosted its stake 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 valued at $12,476,000 after buying an additional 58,907 shares in the last quarter. Trexquant Investment LP bought a new stake in Wright Medical Group during the fourth quarter valued at approximately $1,023,000. Finally, New York State Common Retirement Fund boosted its stake 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 valued at $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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