Wright Medical Group NV (NASDAQ:WMGI) – Research analysts at Northcoast Research dropped their Q3 2019 earnings per share (EPS) estimates for shares of Wright Medical Group in a report issued on Thursday, August 8th. Northcoast Research analyst D. Keiser now expects that the medical device company will earn ($0.07) per share for the quarter, down from their previous forecast of ($0.01).

WMGI has been the topic of a number of other research reports. Wells Fargo & Co downgraded Wright Medical Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $28.00 to $23.00 in a report on Monday. BidaskClub raised Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets cut their price objective on Wright Medical Group from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective (down from $38.00) on shares of Wright Medical Group in a research report on Tuesday, July 23rd. Finally, Bank of America cut Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Wright Medical Group presently has an average rating of “Buy” and an average target price of $31.38.

Shares of NASDAQ:WMGI opened at $21.31 on Monday. Wright Medical Group has a 1 year low of $20.54 and a 1 year high of $32.86. The stock has a market cap of $2.73 billion, a P/E ratio of 239.78, a PEG ratio of 8.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.70 and a current ratio of 0.91. The firm’s 50-day simple moving average is $27.01.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, August 7th. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Wright Medical Group had a positive return on equity of 1.37% and a negative net margin of 14.65%. The company had revenue of $229.73 million for the quarter, compared to the consensus estimate of $233.04 million. During the same quarter in the previous year, the business earned ($0.03) EPS. Wright Medical Group’s revenue was up 11.8% compared to the same quarter last year.

Institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC bought a new stake in shares of Wright Medical Group in the 1st quarter worth approximately $55,000. FNY Investment Advisers LLC bought a new stake in shares of Wright Medical Group in the 2nd quarter worth approximately $56,000. Exane Derivatives boosted its position in shares of Wright Medical Group by 78.6% in the 1st quarter. Exane Derivatives now owns 2,777 shares of the medical device company’s stock worth $87,000 after purchasing an additional 1,222 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Wright Medical Group in the 1st quarter worth approximately $94,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Wright Medical Group in the 2nd quarter worth approximately $118,000.

In other news, CAO Julie Andrews sold 1,447 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.65, for a total value of $44,350.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert J. Palmisano purchased 46,654 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $21.39 per share, for a total transaction of $997,929.06. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 79,654 shares of company stock worth $1,708,809 and have sold 12,626 shares worth $389,339. Insiders own 3.80% of the company’s stock.

About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.

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Earnings History and Estimates for Wright Medical Group (NASDAQ:WMGI)

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