market folly

Roberto Mignone's hedge fund firm Bridger Management recently filed a 13G with the SEC regarding Wright Medical Group (WMGI).  Per the filing, they have disclosed a 5.1% ownership stake in WMGI with 2,000,000 shares.

This marks an increase of 40% in their position size since the end of the second quarter.  Do note that this filing is made due to portfolio activity on August 22nd, so the filing seems to be a bit delayed.

Bridger is known for its focus on health-related plays and this stake certainly fits that mold.

Per Google Finance, Wright Medical Group is "a global orthopaedic medical device company specializing in the design, manufacture and marketing of devices and biologic products for extremity, hip and knee repair and reconstruction. The Company is provider of surgical solutions for the foot and ankle market. It offers products in four primary market sectors: extremity reconstruction, biologics, knee reconstruction and hip reconstruction."