Wright Medical Group (WMGI) reported first quarter adjusted net income of $0.22 per share after the close Tuesday, down from $0.24 per share last year. The consensus estimate was for EPS of $0.11. Full year 2012 EPS is expected to be between $0.26 and $0.36, which is above the consensus estimate of $0.16.
Wright Medical Group rose in early trade Wednesday and extended its gains late in the morning. Shares finished up by 1.69 at $20.43, with volume at over a 2-month high. The stock broke out of a month and a half long range and set a new high for the year.
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