Is Wright Medical Group Inc (WMGI) A Good Stock To Buy?

Seeing as Wright Medical Group Inc (NASDAQ:WMGI) has experienced bearish sentiment from the smart money, we can see that there were a few fund managers who sold off their entire stakes heading into Q4. Intriguingly, Sanford J. Colen’s Apex Capital dumped the biggest investment of the 700 funds monitored by Insider Monkey, totaling an estimated $19.5 million in stock. Thomas Steyer’s fund, Farallon Capital, also dumped its stock, about $15.4 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest was cut by 5 funds heading into Q4.

Let’s also examine hedge fund activity in other stocks similar to Wright Medical Group Inc (NASDAQ:WMGI). We will take a look at istar Inc (NYSE:STAR), Bankrate Inc (NYSE:RATE), Franklin Street Properties Corp. (NYSEAMEX:FSP), and Physicians Realty Trust (NYSE:DOC). All of these stocks’ market caps match WMGI’s market cap.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $137 million. That figure was $460 million in WMGI’s case. istar Inc (NYSE:STAR) is the most popular stock in this table. On the other hand Franklin Street Properties Corp. (NYSEAMEX:FSP) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Wright Medical Group Inc (NASDAQ:WMGI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.