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

WMGI has been the subject of several recent research reports. Zacks Investment Research raised Wright Medical Group from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, May 3rd. Needham & Company LLC upped their target price on Wright Medical Group from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Leerink Swann upped their target price on Wright Medical Group from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, May 5th. Wells Fargo & Co. upgraded Wright Medical Group from a “market perform” rating to an “outperform” rating in a report on Thursday, May 5th. Finally, Jefferies Group restated a “buy” rating and issued a $29.00 target price on shares of Wright Medical Group in a report on Thursday, May 5th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Wright Medical Group presently has an average rating of “Buy” and a consensus target price of $25.60.

The company’s market cap is $2.60 billion. The stock’s 50 day moving average price is $22.37 and its 200-day moving average price is $19.03.

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

In other 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 completion of the transaction, the director now directly 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 accessible through this hyperlink. Also, CFO Lance A. Berry sold 4,432 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 94,123 shares of the company’s stock, valued at $1,825,986.20. The disclosure for this sale can be found here.

Other institutional investors have added to or reduced their stakes in the company. Nicholas Co. Inc. WI acquired a new position in Wright Medical Group during the fourth quarter valued at approximately $3,167,000. Trexquant Investment LP acquired a new position in Wright Medical Group during the fourth quarter valued at 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 valued at $16,963,000 after buying an additional 307,319 shares during 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 valued at $12,476,000 after buying an additional 58,907 shares during 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 valued at $2,129,000 after buying an additional 41,148 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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