Wright Medical Group Inc (WMGI) is Reiterated by Needham to Buy, Raises Price Target to $ 24

Wright Medical Group Inc (WMGI) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 24 from a previous price target of $22 . Needham advised their investors in a research report released on May 5, 2016.

Many Wall Street Analysts have commented on Wright Medical Group Inc. Shares were Reiterated by RBC Capital Mkts on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 22 from a previous price target of $29 .Needham Upgraded Wright Medical Group Inc on Feb 22, 2016 to ” Buy”, Price Target of the shares are set at $22.

On the company’s financial health, Wright Medical Group Inc reported $-0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.14 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.24. The company had revenue of $181.02 million for the quarter, compared to analysts expectations of $171.07 million. The company’s revenue was up 132.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.51 EPS.

Wright Medical Group Inc closed down -0.27 points or -1.48% at $17.99 with 6,84,052 shares getting traded on Wednesday. Post opening the session at $18.03, the shares hit an intraday low of $17.64 and an intraday high of $18.13 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 8, 2016, David H Mowry (Executive VP and COO) sold 13,500 shares at $17.34 per share price. According to the SEC, 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.

Wright Medical Group Inc

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