Jefferies Maintains Hold Rating On Wright Medical Group (WMGI)

According to a recent report from Jefferies, Wright Medical Group WMGI has given very few details on what to expect moving forward causing Jefferies to maintain a hold rating on WMGI. In the report, Jefferies said, "While the company exceeded expectations and offered slightly better 2011 guidance, this is grossly overshadowed by the uncertainty injected by the ongoing investigation. With very limited details, it is impossible to have confidence in Wright's forecasts and, as such, we remain at Hold." Jefferies also maintains the price target of $16.00 on WMGI based on the current 1.3x EV/2011 sales multiple. WMGI closed yesterday at $15.28.