GW&K Investment Management LLC lifted its position in shares of Wright Medical Group NV (NASDAQ:WMGI) by 24.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,300,058 shares of the medical device company’s stock after acquiring an additional 257,590 shares during the quarter. GW&K Investment Management LLC’s holdings in Wright Medical Group were worth $26,820,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FTB Advisors Inc. boosted its stake in Wright Medical Group by 34.9% in the 3rd quarter. FTB Advisors Inc. now owns 1,963 shares of the medical device company’s stock worth $40,000 after purchasing an additional 508 shares during the period. FNY Investment Advisers LLC bought a new position in Wright Medical Group in the 2nd quarter worth about $56,000. Redhawk Wealth Advisors Inc. bought a new position in Wright Medical Group in the 2nd quarter worth about $118,000. Cerebellum GP LLC bought a new position in Wright Medical Group in the 3rd quarter worth about $119,000. Finally, Nisa Investment Advisors LLC boosted its stake in Wright Medical Group by 761.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,675 shares of the medical device company’s stock worth $138,000 after purchasing an additional 5,900 shares during the period.
Several research analysts have commented on the company. Credit Suisse Group cut their target price on Wright Medical Group from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald downgraded Wright Medical Group from an “overweight” rating to a “neutral” rating in a research note on Monday, November 4th. Piper Jaffray Companies downgraded Wright Medical Group from an “overweight” rating to a “neutral” rating in a research note on Monday, November 4th. BidaskClub upgraded Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird downgraded Wright Medical Group from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $28.00 to $31.00 in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Wright Medical Group has an average rating of “Hold” and an average target price of $30.17.
Shares of NASDAQ WMGI traded down $0.05 during trading hours on Monday, reaching $29.38. 287,576 shares of the stock traded hands, compared to its average volume of 2,444,006. The company has a market capitalization of $3.72 billion, a P/E ratio of 326.67, a price-to-earnings-growth ratio of 10.68 and a beta of 0.78. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.80. Wright Medical Group NV has a 52-week low of $19.04 and a 52-week high of $32.86. The company’s 50-day simple moving average is $21.47 and its two-hundred day simple moving average is $25.77.
In other news, Director Elizabeth H. Weatherman acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $20.87 per share, with a total value of $313,050.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Barry J. Regan acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $215,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 3,357 shares of company stock worth $70,822. 3.80% of the stock is currently owned by insiders.
About Wright Medical Group
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.
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