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WMGI

Wright Medical

$28.29

1.505 (5.62%)

07:08
08/29/18
08/29
07:08
08/29/18
07:08

Wright Medical upgraded to Outperform at BMO Capital on accelerating Q2 results

BMO Capital analyst Joanne Wuensch upgraded Wright Medical to Outperform from Market Perform and raised her price target to $31 from $28, saying her prior expectations of a plateau driven by in-line historical valuation proved to be short lived. The analyst points to the company's faster than expected recovery in its Lower Extremities franchise in the most recent quarter and also the acquisition of Cartiva accelerating its revenues and EBITDA margins. Wuensch further cites the positive impact of FDA approval of Augment Inject product driving the management to boost its FY18 revenue guidance.

  • 28

    Aug

WMGI Wright Medical
$28.29

1.505 (5.62%)

08/22/18
08/22/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. BJ's Restaurants (BJRI) initiated with a Buy at Maxim. 2. Nightstar Therapeutics (NITE) initiated with a Buy at Janney Montgomery Scott. 3. Endava (DAVA) initiated with a Hold at Deutsche Bank. 4. Cardiovascular Systems (CSII) initiated with a Buy at Stifel. 5. Wright Medical (WMGI) initiated with a Buy at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/27/18
PIPR
08/27/18
NO CHANGE
PIPR
Overweight
Wright Medical acquisition expensive, but makes sense, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien says that while Wright Medical's acquisition of Cartiva is expensive, it "makes a lot of sense otherwise." Cartiva offers a differentiated technology in a highly commoditized space, with a large total addressable market of $400M, O'Brien tells investors in a research note. While the need for a raise to pay for the transaction may weigh on the stock today, the deal's "compelling features offset that," the analyst adds. He encourages investors to build positions in Wright Medical and keeps an Overweight rating on the name with a $32 price target.
08/28/18
NEED
08/28/18
UPGRADE
Target $30
NEED
Buy
Wright Medical upgraded to Buy from Hold at Needham
Needham analyst Michael Matson upgraded Wright Medical Group to Buy with a $30 price target. The share pullback on dilution from the company's acquisition of Cartiva provides a buying opportunity, Matson tells investors in a research note. The analyst believes the deal improves Wright Medical's underlying revenue growth. He has confidence that the company can continue to post "beat and raise" quarters.
08/29/18
BMOC
08/29/18
UPGRADE
BMOC
Outperform
Wright Medical upgraded to Outperform from Market Perform at BMO Capital

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TISA

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FCPT

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STNE

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GPIC

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SCHW

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TKC

Turkcell

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

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QUMU

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