The 2,044 Shares of Wright Medical Group Inc. (WMGI) are sold by Mcrae Capital Management Inc.

The 2,044 Shares of Wright Medical Group Inc. (WMGI) are sold by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. cut its position in shares of Wright Medical Group Inc. (NASDAQ:WMGI) by 15.2% during the second quarter, Holdings Channel reports. The fund owned 11,446 shares of the medical device company’s stock after selling 2,044 shares during the period. Mcrae Capital Management Inc.’s holdings in Wright Medical Group were worth $199,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Teachers Advisors Inc. boosted its position in shares of Wright Medical Group by 0.3% in the first quarter. Teachers Advisors Inc. now owns 157,740 shares of the medical device company’s stock worth $2,618,000 after buying an additional 435 shares during the last quarter. BlackRock Inc. boosted its position in shares of Wright Medical Group by 123.0% in the first quarter. BlackRock Inc. now owns 6,052 shares of the medical device company’s stock worth $100,000 after buying an additional 3,338 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Wright Medical Group by 22.6% in the first quarter. BlackRock Group LTD now owns 61,676 shares of the medical device company’s stock worth $1,024,000 after buying an additional 11,350 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Wright Medical Group by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,213,603 shares of the medical device company’s stock worth $36,746,000 after buying an additional 10,145 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Wright Medical Group by 1.7% in the first quarter. State Street Corp now owns 1,519,407 shares of the medical device company’s stock worth $25,223,000 after buying an additional 25,001 shares in the last quarter.

Shares of Wright Medical Group Inc. (NASDAQ:WMGI) traded up 1.63% during mid-day trading on Friday, hitting $22.44. 730,548 shares of the company traded hands. The firm has a 50-day moving average of $23.73 and a 200-day moving average of $21.29. Wright Medical Group Inc. has a one year low of $15.02 and a one year high of $25.50. The stock’s market capitalization is $2.31 billion.

Wright Medical Group (NASDAQ:WMGI) last issued its earnings results on Tuesday, August 2nd. The medical device company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. The business had revenue of $170 million for the quarter, compared to analyst estimates of $172.81 million. Wright Medical Group had a negative net margin of 79.16% and a negative return on equity of 7.86%. Wright Medical Group’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.71) earnings per share. On average, equities analysts predict that Wright Medical Group Inc. will post ($0.48) earnings per share for the current year.

WMGI has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $24.00 price target on shares of Wright Medical Group in a research report on Monday, July 11th. Leerink Swann reissued an “outperform” rating and set a $25.00 price target on shares of Wright Medical Group in a research report on Tuesday, July 12th. Piper Jaffray Cos. raised shares of Wright Medical Group from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Wednesday, July 13th. JPMorgan Chase & Co. raised shares of Wright Medical Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $21.00 to $26.00 in a research report on Wednesday, July 13th. Finally, Zacks Investment Research cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Wright Medical Group currently has a consensus rating of “Buy” and a consensus target price of $25.64.

About Wright Medical Group

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.

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