Wright Medical Group Inc (WMGI) is Initiated by Guggenheim to Buy

Wright Medical Group Inc (WMGI) was Initiated by Guggenheim to “Buy”. Guggenheim advised their investors in a research report released on Jun 9, 2016.

Many Wall Street Analysts have commented on Wright Medical Group Inc. Company shares were Reiterated by Needham on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .Wright Medical Group Inc was Upgraded by Wells Fargo to ” Outperform” on May 5, 2016. 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 .

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 -0.08 points or -0.41% at $19.26 with 9,33,899 shares getting traded on Tuesday. Post opening the session at $19.34, the shares hit an intraday low of $19.03 and an intraday high of $19.56 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 3, 2016, Jennifer S. Walker (SVP, Process Improvement) sold 1,167 shares at $19.34 per share price. According to the SEC, on Jun 3, 2016, Terry Rich (President, Upper Extremities) sold 2,237 shares at $19.35 per share price. On Jun 3, 2016, Julie D Tracy (SVP & Chief Communic. Officer) sold 3,277 shares at $19.38 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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