Brean Murray Carret & Co. Starts Wright Medical (WMGI) at Buy, New CEO to Tranform Co.

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Brean Murray Carret & Co. initiates coverage on Wright Medical (NASDAQ: WMGI) with a Buy. PT $30.00.

The firm comments, "Newly appointed CEO Bob Palmisnao and team are set to transform the company, by refocusing its low‐growth hip and knee business into a cash generator, and increasing investment in the highergrowth foot and ankle business (low‐double‐digit growth/20% of revenues). These changes should help to transform the company into a mid‐high, single‐digit top‐line grower, with at least 15% operating margins, in turn generating at least $100 million in EBITDA."

For an analyst ratings summary and ratings history on Wright Medical click here. For more ratings news on Wright Medical click here.

Shares of Wright Medical closed at $21.55 yesterday, with a 52 week range of $13.57-$22.50.

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