Investors often seem to get bored with the actual execution of business plans, and I think that's at least partly responsible for the ongoing weakness in Wright Medical (NASDAQ:WMGI) shares. It's also been a weak stretch since early August for many of the company's peers, with Integra (NASDAQ:IART) and Zimmer Biomet (NYSE:ZBH) down as well, and Stryker (NYSE:SYK) just barely up.
Wright Medical continues to have a strong position in one of the fastest-growing segments of medical devices, and the company's Augment biologic has significant growth potential from here. The company has also largely tied up its hip implant litigation and at a cost that was within the prior bounds established by management.
Management has also been delivering successfully against its merger synergy targets, and I believe the company is on track for strong growth over the next ten years as new products drive more adoption of upper and lower extremity procedures. With a fair value in the mid-$20s, Wright Medical shares still offer worthwhile upside.
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Wright Medical Checking The Boxes