Wright Medical Group Receives a Buy from Jefferies

By Austin Angelo

Jefferies analyst Raj Denhoy reiterated a Buy rating on Wright Medical Group (NASDAQ: WMGI) on October 10 and set a price target of $33. The company’s shares closed yesterday at $26.52.

According to TipRanks.com, Denhoy is a 5-star analyst with an average return of 12.8% and a 63.7% success rate. Denhoy covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Varian Medical Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Wright Medical Group is Strong Buy and the average price target is $32.50, representing a 22.5% upside.

In a report issued on October 2, RBC Capital also reiterated a Buy rating on the stock with a $31 price target.

The company has a one-year high of $31.53 and a one-year low of $20.50. Currently, Wright Medical Group has an average volume of 1.08M.

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Wright Medical Group NV is 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.