Bank of America Initiates Coverage on Wright Medical Group Inc to Buy

Bank of America Initiates Coverage on Wright Medical Group Inc(NASDAQ:WMGI). The shares have been rated Buy. The rating by Bank of America was issued on Apr 11, 2016.

In a different note, On Feb 24, 2016, JP Morgan said it Maintains its rating on Wright Medical Group Inc. In the research note, the firm Lowers the price-target to $25.00 per share. The shares have been rated ‘Neutral’ by the firm. On Feb 22, 2016, Needham said it Upgrades its rating on Wright Medical Group Inc. The shares have been rated ‘Buy’ by the firm.

Wright Medical Group Inc (WMGI) made into the market gainers list on Fridays trading session with the shares advancing 2.77% or 0.51 points. Due to strong positive momentum, the stock ended at $18.9, which is also near the day’s high of $19.04. The stock began the session at $18.28 and the volume stood at 9,77,640 shares. The 52-week high of the shares is $27.06 and the 52 week low is $15.02. The company has a current market capitalization of $1,941 M and it has 10,27,08,047 shares in outstanding.

Wright Medical Group Inc(WMGI) last announced its earnings results on Feb 23, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $181.40M. Analysts had an estimated revenue of $165.99M. Earnings per share were $-0.17. Analysts had estimated an EPS of $-0.33.

Several Insider Transactions has been reported to the SEC. On Mar 8, 2016, David H Mowry (Executive VP and COO) sold 13,500 shares at $17.34 per share price.Also, On Nov 25, 2015, Elizabeth H Weatherman (director) sold 4,500,000 shares at $20.82 per share price.On Nov 25, 2015, Sean Carney (director) sold 4,500,000 shares at $20.82 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company’s business includes products that are used in foot and ankle repair upper extremity products and biologics products which are used to replace damaged or diseased bone to stimulate bone growth and to provide other biological solutions for surgeons and patients. The Company’s products include extremity hardware foot and ankle hardware upper extremity hardware and biologics.

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