Wright Medical Group Inc (WMGI) is Upgraded by Piper Jaffray to Overweight

Wright Medical Group Inc (WMGI) was Upgraded by Piper Jaffray to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Jul 13, 2016.

Many Wall Street Analysts have commented on Wright Medical Group Inc. Wright Medical Group Inc was Upgraded by JP Morgan to ” Overweight” on Jul 13, 2016. Wright Medical Group Inc was Initiated by Guggenheim to “Buy” on Jun 9, 2016. 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 .

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 opened for trading at $19.94 and hit $20.31 on the upside on Monday, eventually ending the session at $20.24, with a gain of 2.22% or 0.44 points. The heightened volatility saw the trading volume jump to 13,20,441 shares. Company has a market cap of $2,079 M.

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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