Here's Why You Should Invest In Wright Medical Stock Now
Zacks Investment Research | Jul 07, 2019 09:13PM ET
Wright Medical Group N.V. (NASDAQ:WMGI) is well poised for growth backed by strong international presence, solid prospects in the global orthopedic space, and new and improved product launches.
The stock currently carries a Zacks Rank #2 (Buy).
What’s Favoring the Stock?
Wright Medical has been gaining from international expansion for quite some time now. In fact, the company’s international net sales are expected to grow substantially on the back of continued strong performance in Biologics.
Further, the company has been reaping benefits from improving trends in the global orthopedic space.
Moreover, the company has significant presence in key emerging markets like Asia, which further enhances prospects. Per data from Grand View Research, the global niche market is expected to witness a CAGR of 3.1% by 2026.
New product launches, which include internally developed products and the ones from acquisitions, have been supporting the company’s top line and we expect this trend to continue in the future.
Notably, robust 2019 outlook instills optimism in the stock.
Price Performance
Shares of Wright Medical have gained 2.8%, compared with the Zacks Investment Research
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