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Wright Medical Group (WMGI) Gets a Buy Rating from Robert W. Baird


Robert W. Baird analyst Jeff Johnson maintained a Buy rating on Wright Medical Group (WMGI) today and set a price target of $35. The company’s shares opened today at $29.15, close to its 52-week high of $30.75.

According to TipRanks.com, Johnson is a 5-star analyst with an average return of 21.2% and a 65.6% success rate. Johnson covers the Healthcare sector, focusing on stocks such as Tandem Diabetes, Align Tech, and NuVasive.

Currently, the analyst consensus on Wright Medical Group is a Strong Buy with an average price target of $33.55, a 15.1% upside from current levels. In a report released today, Jefferies also maintained a Buy rating on the stock with a $35 price target.

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Based on Wright Medical Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $90.62 million. In comparison, last year the company had a GAAP net loss of $34.12 million.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WMGI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.