Wall Street brokerages expect Wright Medical Group NV (NASDAQ:WMGI) to post earnings of ($0.15) per share for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts have made estimates for Wright Medical Group’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.06). Wright Medical Group reported earnings of ($0.16) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The firm is scheduled to report its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Wright Medical Group will report full year earnings of ($0.16) per share for the current year, with EPS estimates ranging from ($0.28) to ($0.11). For the next financial year, analysts anticipate that the business will report earnings of $0.16 per share, with EPS estimates ranging from ($0.02) to $0.29. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Wright Medical Group.
Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, August 8th. The medical device company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $205.40 million for the quarter, compared to analysts’ expectations of $197.20 million. Wright Medical Group had a negative return on equity of 1.94% and a negative net margin of 24.74%. Wright Medical Group’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS.
A number of equities analysts recently weighed in on WMGI shares. Guggenheim raised Wright Medical Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 13th. Oppenheimer set a $28.00 price target on Wright Medical Group and gave the stock a “hold” rating in a research note on Thursday, August 9th. BMO Capital Markets raised Wright Medical Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $31.00 in a research note on Wednesday, August 29th. Cantor Fitzgerald lifted their price target on Wright Medical Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Finally, BidaskClub raised Wright Medical Group from a “sell” rating to a “hold” rating in a research note on Monday, May 14th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Wright Medical Group has a consensus rating of “Buy” and a consensus price target of $31.08.
Shares of WMGI opened at $28.28 on Monday. The stock has a market capitalization of $3.09 billion, a P/E ratio of -128.55 and a beta of 1.10. Wright Medical Group has a 1-year low of $19.01 and a 1-year high of $29.65. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.06.
In other Wright Medical Group news, CFO Lance A. Berry sold 1,182 shares of Wright Medical Group stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $27.19, for a total transaction of $32,138.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jennifer S. Walker sold 11,466 shares of Wright Medical Group stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $28.60, for a total value of $327,927.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,059 shares of company stock worth $1,517,772. Company insiders own 4.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in shares of Wright Medical Group during the 2nd quarter valued at about $77,033,000. Voya Investment Management LLC lifted its holdings in shares of Wright Medical Group by 2,709.2% during the 2nd quarter. Voya Investment Management LLC now owns 1,303,936 shares of the medical device company’s stock valued at $33,850,000 after buying an additional 1,257,519 shares during the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Wright Medical Group by 184.6% during the 2nd quarter. Nomura Holdings Inc. now owns 1,010,663 shares of the medical device company’s stock valued at $26,237,000 after buying an additional 655,514 shares during the last quarter. Chicago Capital LLC acquired a new stake in shares of Wright Medical Group during the 1st quarter valued at about $8,671,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Wright Medical Group by 43.8% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,236,856 shares of the medical device company’s stock valued at $32,109,000 after buying an additional 377,003 shares during the last quarter.
Wright Medical Group Company Profile
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. 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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