Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/stories/2005-10-04/piper-jaffray-cuts-wright-medical-group

Markets & Finance

Piper Jaffray Cuts Wright Medical Group


Piper Jaffray cut its investment recommendation on Wright Medical Group (WMGI) to market perform from outperform.

Analyst Raj Denhoy cited a row of lackluster results at the company, among other things. He said he has little confidence in a quick turnaround for Wright Medical Group and he believes it best to move to the sidelines as the timing of the company's improvement outlook continues to be elusive; strong revenue growth and operating margin leverage is not likely to return until late 2006. He cut his fourth quarter earnings per share estimate to 15 cents from 27 cents on lower sales of $78.4 million, his 2006 earnings per share to 77 cents from $1.08, and his 2007 earnings per share to 95 cents from $1.34. He also reduced his target to $21 from $30.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus