On Jul 9, Zacks Investment Research upgraded
Wright Medical Group, Inc.
) to a Zacks Rank #1 (Strong Buy) from a Zacks Rank #2 (Buy).
Why the Upgrade?
Wright Medical Group witnessed an upward estimate revision for 2014
over the last 30 days, with no downward revision. Consequently, the
Zacks Consensus Estimate for 2014 increased 0.8% to stand at a
narrower loss of $1.32 per share.
Shares of this specialty orthopaedic company have been on the rise
following the recent commercial launch of its INFINITY Total Ankle
Replacement System across the U.S. Featuring a low-profile implant
design and a straightforward surgical approach, the INFINITY Total
Ankle Replacement System aids the treatment of patients with
end-stage ankle arthritis.
The INFINITY Total Ankle Replacement System should help Wright
Medical Group fortify its leadership position and multi-year
competitive lead in the total ankle replacement market.
This breakthrough offering from the INFINITY product range will
likely accelerate the ongoing market conversion from fusion
procedures to total ankle replacement. It seems to pose a
significant threat to
) recently acquired Scandinavian Total Ankle Replacement or STAR
Ankle System from Small Bone Innovations, a Morrisville, PA-based
joint replacement system maker.
For the first quarter of 2014, Wright Medical Group posted a wider
adjusted net loss of 34 cents per share compared with a loss of 8
cents in the same quarter of 2013. However, the loss was narrower
than the Zacks Consensus Estimate of a loss of 42 cents. The
company delivered positive earnings surprises in 3 of the last 4
quarters, with an average beat of 2.7%.
Revenues grew 26.2% during the last reported quarter, driven by
strong sales in the Foot and Ankle product line as well as
continued progress across the company's international markets.
Wright Medical Group continues to focus on driving sales
productivity gains in its U.S. foot and ankle business and expedite
international business growth. The advanced INFINITY Total Ankle
Replacement System along with several new products slated to launch
this year is expected to fuel growth and profits at Wright Medical
Other Stocks to Consider
Some other medical product stocks that warrant a look are
OraSure Technologies, Inc.
Cardiovascular Systems Inc.
). While OraSure Technologies sports a Zacks Rank #1 (Strong Buy),
Cardiovascular Systems carries a Zacks Rank #2 (Buy).
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