Wright Medical Group (NASDAQ:WMGI) has tumbled 7.08% during the past week and has dropped 7.96% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.97%. Wright Medical Group (NASDAQ:WMGI) has underperformed the index by 8.8% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Wright Medical Group (NASDAQ:WMGI): The stock opened at $18.39 on Friday but the bulls could not build on the opening and the stock topped out at $18.76 for the day. The stock traded down to $17.35 during the day, due to lack of any buying support eventually closed down at $17.58 with a loss of -4.72% for the day. The stock had closed at $18.45 on the previous day. The total traded volume was 2,897,881 shares.
The company shares have dropped -33.05% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $26.78 and the one year low was seen on Feb 10, 2016. The 50-Day Moving Average price is $18.77 and the 200 Day Moving Average price is recorded at $19.29.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP, Process Improvement) of Wright Medical Group N.V., Walker Jennifer S. had sold 1,167 shares worth of $22,570 in a transaction dated June 2, 2016. In this transaction, 1,167 shares were sold at $19.34 per share.
Many analysts have stated their opinion on the company shares. Guggenheim Securities initiates coverage on Wright Medical Group (NASDAQ:WMGI). According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 9, 2016. Currently the company Insiders own 9.3% of Wright Medical Group shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.18% . Institutional Investors own 97.93% of Wright Medical Group shares. During last six month period, the net percent change held by insiders has seen a change of -5.11%.
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 Companys 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 Companys products include extremity hardware, foot and ankle hardware, upper extremity hardware and biologics.