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WMGI

Wright Medical

$21.58

-0.42 (-1.91%)

06:30
08/12/19
08/12
06:30
08/12/19
06:30

Wright Medical downgraded to Market Perform from Outperform at Wells Fargo

Wells Fargo analyst Lawrence Biegelsen downgraded Wright Medical Group to Market Perform from Outperform and lowered his price target for the shares to $23 from $28. The "rapid decline" in Cartiva sales in Q2 suggests physicians aren't satisfied with the product, Biegelsen tells investors in a research note. Further, the analyst believes Wright's core lower extremities business has become commoditized and that smaller competitors can continue to take the company's reps. In addition, Biegelsen Wright's upper extremities business is likely to slow due to new competition. While there is strategic value in Wright Medical, the fundamentals "look challenging," says the analyst.

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WMGI Wright Medical
$21.58

-0.42 (-1.91%)

08/08/19
08/08/19
DOWNGRADE
Target $24

Sector Perform
Wright Medical downgraded to Sector Perform from Outperform at RBC Capital
As previously reported, RBC Capital analyst Brandon Henry downgraded Wright Medical to Sector Perform from Outperform and lowered his price target on the shares to $24 from $34. The analyst cites the company's Q2 revenue miss on weaker U.S. Lower Extremities business, as Cartiva sales underperformed. Henry notes the management has indicated that distributors stopped devoting resources to the product and tried to shift customers away from Cartiva as they "did not believe they would have access to Cartiva longer-term."
08/08/19
STFL
08/08/19
NO CHANGE
Target $30
STFL
Buy
Wright Medical issues seem short-term and fixable, says Stifel
Stifel analyst Mathew Blackman noted that Wright Medical reported lower than expected Q2 sales and cut its full-year forecast, pointing to Cartiva distributor-related disruption, rather than underlying physician demand, and unanticipated, higher U.S. "core" lower extremity sales force attrition as issues that impacted both its results and outlook. Acknowledging that the troubles are "surprising and disappointing," Blackman still argues that the issues are short-term and fixable. Even with these headwinds, Wright Medical "still represents a very unique MedTech asset," contends Blackman, who lowered his price target on the stock to $30 from $36 but keeps a Buy rating on the shares.
08/08/19
BMOC
08/08/19
NO CHANGE
Target $30
BMOC
Outperform
Wright Medical price target lowered to $30 from $36 at BMO Capital
BMO Capital analyst Joanne Wuensch lowered her price target on Wright Medical to $30 after its Q2 miss and lowered FY19 guidance driven by the disruption in the Cartiva distributor sales force and a higher sales rep turnover in Lower Extremities. The analyst notes that it will take the company a few quarters to recover, but keeps his Outperform rating on the stock longer term, anticipating momentum in the Wright Medical's Upper and Lower Extremities franchises.
08/09/19
BOFA
08/09/19
DOWNGRADE
Target $25
BOFA
Neutral
Wright Medical downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Travis Steed downgraded Wright Medical to Neutral with a price target of $25 after its below-consensus Q2, saying there is "little opportunity" for the multiple to expand without a "real, sustained" reacceleration in its Lower Extremities business as it is still not far below the average since the company's merger with Tornier. The analyst adds that while Wright Medical's current issues are "manageable", it is challenging to "regain lost ground" with new sales reps, and the fix can take longer than expected. Steed adds that the company's Biologics comps will also become "much tougher" in the second half of 2019.

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Daimler AG

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UPS

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DIS

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, T

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BA

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MCF

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GLD

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VXRT

Vaxart

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AAPL

Apple

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IIVI

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CPE

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$4.53

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$24.31

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

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-0.19 (-0.97%)

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-30.45 (-0.83%)

JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

SPB

Spectrum Brands

$49.66

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NOC

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

, FNSR

Finisar

$24.31

1.25 (5.42%)

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PSMT

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$60.29

-0.39 (-0.64%)

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IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

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NHYDY

Norsk Hydro

$0.00

(0.00%)

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RESN

Resonant

$3.05

0.02 (0.66%)

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NINE

Nine Energy Services

$6.73

-0.33 (-4.67%)

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ATOM

Atomera

$3.70

0.17 (4.82%)

17:00
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Conference/Events
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MPWR

Monolithic Power

$154.21

-2 (-1.28%)

16:50
09/20/19
09/20
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16:50
Conference/Events
Monolithic Power participates in a conference call with Loop Capital »

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