Wall Street brokerages expect Wright Medical Group NV (NASDAQ:WMGI) to post $208.20 million in sales for the current fiscal quarter, Zacks reports. Fifteen analysts have made estimates for Wright Medical Group’s earnings, with estimates ranging from $206.30 million to $209.18 million. Wright Medical Group reported sales of $194.11 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, November 6th.
According to Zacks, analysts expect that Wright Medical Group will report full-year sales of $927.49 million for the current year, with estimates ranging from $926.24 million to $928.98 million. For the next financial year, analysts forecast that the business will post sales of $1.02 billion, with estimates ranging from $1.01 billion to $1.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Wright Medical Group.
Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Wednesday, August 7th. The medical device company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $229.73 million during the quarter, compared to analyst estimates of $233.04 million. Wright Medical Group had a positive return on equity of 1.38% and a negative net margin of 14.65%. Wright Medical Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS.
A number of equities analysts have issued reports on WMGI shares. Royal Bank of Canada downgraded Wright Medical Group from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $34.00 to $24.00 in a research note on Thursday, August 8th. Cantor Fitzgerald downgraded Wright Medical Group from an “overweight” rating to a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Co downgraded Wright Medical Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $28.00 to $23.00 in a research note on Monday, August 12th. Oppenheimer cut their price target on Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Bank of America downgraded Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Wright Medical Group currently has a consensus rating of “Hold” and a consensus price target of $30.09.
NASDAQ:WMGI traded up $0.07 during trading hours on Monday, hitting $29.43. 6,641,200 shares of the company were exchanged, compared to its average volume of 2,444,006. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 326.67, a price-to-earnings-growth ratio of 10.68 and a beta of 0.78. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.80. Wright Medical Group has a one year low of $19.04 and a one year high of $32.86. The company has a fifty day simple moving average of $21.47 and a 200 day simple moving average of $25.77.
In other Wright Medical Group news, Director Elizabeth H. Weatherman bought 15,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $20.87 per share, for a total transaction of $313,050.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert J. Palmisano bought 46,654 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $21.39 per share, for a total transaction of $997,929.06. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 94,654 shares of company stock worth $2,021,859 and sold 3,357 shares worth $70,822. 3.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Wright Medical Group by 13,009.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,884 shares of the medical device company’s stock worth $59,000 after buying an additional 2,862 shares during the last quarter. GW&K Investment Management LLC boosted its stake in shares of Wright Medical Group by 24.7% in the 3rd quarter. GW&K Investment Management LLC now owns 1,300,058 shares of the medical device company’s stock worth $26,820,000 after buying an additional 257,590 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Wright Medical Group in the 3rd quarter worth approximately $6,765,000. SG Americas Securities LLC purchased a new position in shares of Wright Medical Group in the 3rd quarter worth approximately $609,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in shares of Wright Medical Group in the 3rd quarter worth approximately $1,032,000.
Wright Medical Group Company Profile
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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