Wright Medical Group (NASDAQ:WMGI) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 7th. Analysts expect Wright Medical Group to post earnings of ($0.15) per share for the quarter. Wright Medical Group has set its FY18 guidance at $(0.21)-(0.14) EPS.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, August 8th. The medical device company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The company had revenue of $205.40 million during the quarter, compared to the consensus estimate of $197.20 million. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. On average, analysts expect Wright Medical Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of WMGI opened at $26.95 on Tuesday. The company has a market cap of $2.96 billion, a P/E ratio of -122.50 and a beta of 1.06. The company has a quick ratio of 1.57, a current ratio of 2.06 and a debt-to-equity ratio of 1.87. Wright Medical Group has a twelve month low of $19.01 and a twelve month high of $29.50.
In other Wright Medical Group news, CFO Lance A. Berry sold 1,182 shares of Wright Medical Group stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $27.19, for a total value of $32,138.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jennifer S. Walker sold 11,466 shares of Wright Medical Group stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $28.60, for a total transaction of $327,927.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,305 shares of company stock valued at $405,239. 4.00% of the stock is currently owned by insiders.
Several brokerages recently weighed in on WMGI. BMO Capital Markets raised shares of Wright Medical Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $28.00 to $31.00 in a research report on Wednesday, August 29th. BidaskClub raised shares of Wright Medical Group from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Robert W. Baird lifted their target price on shares of Wright Medical Group from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Jefferies Financial Group lifted their target price on shares of Wright Medical Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Bank of America raised shares of Wright Medical Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $34.00 in a research report on Thursday, August 9th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.64.
About Wright Medical Group
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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