Harvest Management LLC Invests $1.38 Million in Wright Medical Group NV (NASDAQ:WMGI)

Harvest Management LLC purchased a new position in shares of Wright Medical Group NV (NASDAQ:WMGI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 45,143 shares of the medical device company’s stock, valued at approximately $1,376,000. Wright Medical Group makes up approximately 2.7% of Harvest Management LLC’s portfolio, making the stock its 6th biggest position.

Several other large investors have also recently made changes to their positions in WMGI. Point72 Asset Management L.P. boosted its stake in shares of Wright Medical Group by 6,034.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,215,683 shares of the medical device company’s stock worth $25,080,000 after acquiring an additional 1,195,866 shares in the last quarter. Scopia Capital Management LP purchased a new stake in Wright Medical Group in the 3rd quarter valued at approximately $19,234,000. Vertex One Asset Management Inc. purchased a new stake in Wright Medical Group in the 4th quarter valued at approximately $17,182,000. IndexIQ Advisors LLC purchased a new stake in Wright Medical Group in the 4th quarter valued at approximately $16,155,000. Finally, BlackRock Inc. lifted its stake in Wright Medical Group by 4.8% in the 2nd quarter. BlackRock Inc. now owns 11,000,118 shares of the medical device company’s stock valued at $328,024,000 after buying an additional 501,510 shares in the last quarter.

WMGI has been the topic of a number of recent research reports. Cantor Fitzgerald lowered Wright Medical Group from an “overweight” rating to a “neutral” rating in a research note on Monday, November 4th. Leerink Swann lowered Wright Medical Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 27th. Northcoast Research lowered Wright Medical Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 12th. Needham & Company LLC reduced their target price on Wright Medical Group from $32.00 to $30.75 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Jefferies Financial Group lowered Wright Medical Group from a “buy” rating to a “hold” rating and set a $30.75 target price on the stock. in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.05.

Shares of Wright Medical Group stock opened at $30.43 on Wednesday. Wright Medical Group NV has a fifty-two week low of $19.04 and a fifty-two week high of $32.86. The firm has a market cap of $3.83 billion, a PE ratio of -28.98, a P/E/G ratio of 4.66 and a beta of 0.93. The business’s fifty day moving average is $30.29 and its two-hundred day moving average is $25.97. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.86.

In other Wright Medical Group news, insider Steven P. Wallace sold 17,222 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $29.60, for a total transaction of $509,771.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tim Lanier sold 46,917 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $29.49, for a total value of $1,383,582.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,140 shares of company stock worth $2,104,084. Corporate insiders own 3.80% of the company’s stock.

Wright Medical Group Company Profile

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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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