Duncan Williams Downgrades Wright Medical (WMGI) to Hold; Valuation Call
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Price: $29.98 --0%
Rating Summary:
9 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Duncan Williams downgraded Wright Medical (NASDAQ: WMGI) to Hold with a price target of $18.50.
Duncan analyst says, "Our $18.50 price target represents approximately 20 times our 2011 adjusted EPS estimate of $0.95. We believe that this multiple is in line with the group average and that WMGI does not deserve a premium multiple to the group. We are concerned on WMGI’s U.S. hip business as clinical issues remain concerning metal-on-metal implants. We believe these clinical issues in the U.S. will pressure both revenue growth rates and gross margins going forward."
For more ratings news on Wright Medical click here and for the rating history of Wright Medical click here.
Shares of Wright Medical closed at $18.00 yesterday.
Duncan analyst says, "Our $18.50 price target represents approximately 20 times our 2011 adjusted EPS estimate of $0.95. We believe that this multiple is in line with the group average and that WMGI does not deserve a premium multiple to the group. We are concerned on WMGI’s U.S. hip business as clinical issues remain concerning metal-on-metal implants. We believe these clinical issues in the U.S. will pressure both revenue growth rates and gross margins going forward."
For more ratings news on Wright Medical click here and for the rating history of Wright Medical click here.
Shares of Wright Medical closed at $18.00 yesterday.
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