Wright Medical Group NV (NASDAQ:WMGI) – Analysts at Cantor Fitzgerald reduced their FY2019 EPS estimates for Wright Medical Group in a note issued to investors on Wednesday, February 27th. Cantor Fitzgerald analyst C. Bijou now anticipates that the medical device company will post earnings of $0.22 per share for the year, down from their previous estimate of $0.24. Cantor Fitzgerald currently has a “Overweight” rating and a $39.00 target price on the stock.
A number of other brokerages have also weighed in on WMGI. Robert W. Baird raised their target price on Wright Medical Group from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price (up from $35.00) on shares of Wright Medical Group in a research note on Wednesday. Jefferies Financial Group raised their target price on Wright Medical Group from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 8th. BidaskClub lowered Wright Medical Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Oppenheimer set a $30.00 target price on Wright Medical Group and gave the company a “hold” rating in a research note on Thursday, November 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $34.23.
Shares of NASDAQ:WMGI opened at $31.31 on Friday. Wright Medical Group has a twelve month low of $19.01 and a twelve month high of $32.05. The firm has a market capitalization of $3.94 billion, a PE ratio of -142.32, a price-to-earnings-growth ratio of 12.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.07.
Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data on Tuesday, February 26th. The medical device company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Wright Medical Group had a negative return on equity of 0.60% and a negative net margin of 13.07%. The firm had revenue of $238.15 million during the quarter, compared to analyst estimates of $237.86 million. During the same period in the prior year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new stake in Wright Medical Group in the fourth quarter worth about $30,000. Exane Derivatives acquired a new stake in Wright Medical Group in the fourth quarter worth about $42,000. FTB Advisors Inc. increased its position in Wright Medical Group by 94.9% in the fourth quarter. FTB Advisors Inc. now owns 1,604 shares of the medical device company’s stock worth $43,000 after purchasing an additional 781 shares during the period. First Quadrant L P CA acquired a new stake in Wright Medical Group in the fourth quarter worth about $72,000. Finally, IFP Advisors Inc acquired a new stake in Wright Medical Group in the fourth quarter worth about $75,000.
In related news, insider Patrick Fisher sold 9,000 shares of Wright Medical Group stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $27.62, for a total value of $248,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin C. Oboyle sold 3,583 shares of Wright Medical Group stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $32.01, for a total value of $114,691.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,306 shares of company stock valued at $1,346,925. Corporate insiders own 4.00% of the company’s stock.
Wright Medical Group Company Profile
Wright Medical Group NV operates as a global medical device company, which engages in the design, manufacture, and distribution of biologic products. It provides surgical solutions for the foot and ankle market and its products include large joint implants for the hip and knee, extremity implants for the shoulder, elbow, hand, wrist and foot and biologic products, including bone graft substitutes.
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