Wright Medical Group Inc (NASDAQ:WMGI) – Analysts at Northcoast Research upped their Q3 2017 earnings per share estimates for shares of Wright Medical Group in a research report issued on Thursday. Northcoast Research analyst D. Keiser now forecasts that the medical device company will earn ($0.16) per share for the quarter, up from their prior forecast of ($0.17). Northcoast Research has a “Buy” rating and a $36.00 price target on the stock. Northcoast Research also issued estimates for Wright Medical Group’s FY2017 earnings at ($0.29) EPS, Q2 2018 earnings at $0.02 EPS and Q3 2018 earnings at ($0.07) EPS.
Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Wednesday, May 3rd. The medical device company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $177.19 million during the quarter, compared to analyst estimates of $182.42 million. Wright Medical Group had a negative return on equity of 6.48% and a negative net margin of 71.90%.
Other equities research analysts also recently issued reports about the company. Jefferies Group LLC reissued a “buy” rating on shares of Wright Medical Group in a report on Monday, April 24th. BMO Capital Markets increased their price objective on Wright Medical Group to $31.00 and gave the company a “buy” rating in a report on Wednesday, February 22nd. Oppenheimer Holdings Inc. set a $29.00 price objective on Wright Medical Group and gave the company a “hold” rating in a report on Thursday, May 4th. Needham & Company LLC reissued a “hold” rating on shares of Wright Medical Group in a report on Wednesday, February 22nd. Finally, Bank of America Corp downgraded Wright Medical Group from a “buy” rating to a “neutral” rating in a report on Tuesday, April 11th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Wright Medical Group has an average rating of “Buy” and an average price target of $28.36.
Shares of Wright Medical Group (NASDAQ:WMGI) opened at 27.90 on Monday. Wright Medical Group has a 1-year low of $15.85 and a 1-year high of $31.53. The company has a 50-day moving average of $30.21 and a 200-day moving average of $26.14. The firm’s market capitalization is $2.89 billion.
Several large investors have recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Wright Medical Group by 15.1% in the third quarter. US Bancorp DE now owns 5,686 shares of the medical device company’s stock valued at $140,000 after buying an additional 746 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Wright Medical Group during the first quarter valued at $207,000. Fairfield Bush & CO. bought a new stake in shares of Wright Medical Group during the first quarter valued at $233,000. Brown Advisory Inc. increased its stake in shares of Wright Medical Group by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 11,115 shares of the medical device company’s stock valued at $256,000 after buying an additional 165 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new stake in shares of Wright Medical Group during the first quarter valued at $276,000.
In related news, Director David D. Stevens sold 11,807 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $28.01, for a total transaction of $330,714.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard F. Wallman sold 16,375 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $28.25, for a total value of $462,593.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,800 shares of company stock valued at $1,380,921. Corporate insiders own 9.30% of the company’s stock.
Wright Medical Group Company Profile
Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.
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