Wright Medical Group Up 9% On Earnings Beat (WMGI)

Shares of Arlington, Tennessee-based Wright Medical Group, Inc. WMGI are trading up 9% at $16.47 per share during the Friday afternoon trading session. The day's trading range for shares of Wright Medical Group, Inc has been between $15.88 and $16.88 per share. Analysts covering the company's stock give it a consensus price target of $17.55per share. Volume of 1.8 million shares is already far above the daily average volume of 372,000 shares. Wright Medical Group, Inc. (WMGI) announced after the market closed on Thursday that it easily beat consensus Wall Street expectations. Wright Medical Group, Inc announced 4th quarter adjusted earnings per share of 29 cents, on revenue of $138.3 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 21 cents per share, on revenue of $130.17 million. Wright Medical Group, Inc is a global orthopaedic medical device company and a leading provider of surgical solutions for the foot and ankle market. The company specializes in the design, manufacture and marketing of devices and biologic products for extremity, hip and knee repair and reconstruction. Read more from Benzinga's Company news.