Price Target Update on Wright Medical Group (NASDAQ:WMGI)

Wright Medical Group (NASDAQ:WMGI) : The consensus price target for Wright Medical Group (NASDAQ:WMGI) is $26.31 for the short term with a standard deviation of $3.97. The most optimist securities analyst among the 13 who monitor the stock believes that the stock can reach $33, however, the pessimist price target for the company is $22.

Other Equity analysts have also commented 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.

Wright Medical Group (NASDAQ:WMGI): stock turned positive on Thursday. Though the stock opened at $17.16, the bulls momentum made the stock top out at $17.71 level for the day. The stock recorded a low of $16.91 and closed the trading day at $17.63, in the green by 3.83%. The total traded volume for the day was 1,961,560. The stock had closed at $16.98 in the previous days trading.

The company shares have dropped -35.54% 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 $18.64 and the 200 Day Moving Average price is recorded at $19.14. 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.

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.

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