Wright Medical Group (NASDAQ: WMGI) is an orthopedic medical device company focusing on the design, manufacture and marketing of reconstructive joint devices and biologic products. Offerings include implants for major and minor joints, an injectable putty for bone defects, bone graft materials and tissue substitutes. Wright Medical serves orthopedic surgery customers in more than 60 countries. Stryker Corporation (NYSE: SYK) and Zimmer Holdings (NYSE: ZMH) are competitors.

The firm surprised the Street last week, when it reported Q1 EPS of 17 cents and revenues of $115.9 million. Analysts had been looking for 13 cents and $108.2 million. The company experienced growth across all of its major product lines. In fact, the CEO noted that it was Wright Medical's "ninth consecutive quarter of global sales growth acceleration." Management also guided Q2 EPS to 17-18 cents (15 cent consensus), Q2 revenues to $113.5-$115.5 million ($112.13M consensus), FY08 EPS to 87-91 cents (62 cent consensus) and FY08 revenues to $455-$465 million ($439.94M consensus). Leerink Swann subsequently upgraded the stock to "outperform".

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Wright Medical Group (WMGI): Shares cycle in bullish 'flag' originally appeared on BloggingStocks on Wed, 30 Apr 2008 11:54:00 EST. Please see our terms for use of feeds.