Wright Medical Group (WMGI) Gets a Buy Rating from Cantor Fitzgerald


Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Wright Medical Group (WMGI) today and set a price target of $35. The company’s shares closed on Friday at $30.36, close to its 52-week high of $30.75.

Bijou wrote:

“We reiterate our Overweight rating and a 12-month price target of $35 on shares of WMGI. We think WMGI is positioned to outperform expectations in 2018 with multiple drivers across each of its three primary segments (lower extremities, upper extremities, and biologics) to accelerate growth. We see WMGI’s valuation as attractive, as we expect innovative products to help WMGI to capitalize on the evolving market trends. Valuation Summary We base our $35 price target on a ~5.0x EV/Sales multiple on our 2020 sales estimate.”

According to TipRanks.com, Bijou is a 3-star analyst with an average return of 2.9% and a 53.7% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.

Wright Medical Group has an analyst consensus of Strong Buy, with a price target consensus of $34.

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Based on Wright Medical Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $35.83 million. In comparison, last year the company had a net profit of $26.85 million.

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Wright Medical Group NV operates as a global medical device company, which engages in the design, manufacture, and distribution of biologic products. It provides surgical solutions for the foot and ankle market and its products include large joint implants for the hip and knee, extremity implants for the shoulder, elbow, hand, wrist and foot and biologic products, including bone graft substitutes. The company was founded by Frank O. Wright in 1950 and is headquartered in Arlington, TN.

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