Westfield Capital Management Co. LP lessened its position in shares of Wright Medical Group NV (NASDAQ:WMGI) by 5.2% in the 1st quarter, HoldingsChannel reports. The fund owned 501,801 shares of the medical device company’s stock after selling 27,413 shares during the period. Westfield Capital Management Co. LP’s holdings in Wright Medical Group were worth $15,782,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp raised its stake in shares of Wright Medical Group by 3.0% during the 1st quarter. Toth Financial Advisory Corp now owns 20,600 shares of the medical device company’s stock worth $648,000 after acquiring an additional 600 shares in the last quarter. California Public Employees Retirement System grew its position in Wright Medical Group by 24.8% during the 1st quarter. California Public Employees Retirement System now owns 170,952 shares of the medical device company’s stock worth $5,376,000 after purchasing an additional 33,999 shares during the last quarter. Rhumbline Advisers grew its position in Wright Medical Group by 51.5% during the 4th quarter. Rhumbline Advisers now owns 161,775 shares of the medical device company’s stock worth $4,404,000 after purchasing an additional 54,964 shares during the last quarter. OppenheimerFunds Inc. grew its position in Wright Medical Group by 144.3% during the 1st quarter. OppenheimerFunds Inc. now owns 1,500,702 shares of the medical device company’s stock worth $47,197,000 after purchasing an additional 886,324 shares during the last quarter. Finally, 361 Capital LLC purchased a new stake in Wright Medical Group during the 4th quarter worth approximately $2,385,000.
Several analysts have weighed in on WMGI shares. BidaskClub downgraded shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price (up previously from $35.00) on shares of Wright Medical Group in a research report on Wednesday, February 27th. BMO Capital Markets boosted their target price on shares of Wright Medical Group from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Oppenheimer set a $34.00 target price on shares of Wright Medical Group and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald boosted their target price on shares of Wright Medical Group from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 27th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $34.92.
Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $230.13 million for the quarter, compared to the consensus estimate of $226.10 million. Wright Medical Group had a negative net margin of 20.81% and a positive return on equity of 0.84%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, research analysts expect that Wright Medical Group NV will post 0.23 EPS for the current fiscal year.
In other news, SVP Andrew C. Morton sold 2,173 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $32.50, for a total value of $70,622.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Julie D. Dewey sold 4,665 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $30.35, for a total transaction of $141,582.75. The disclosure for this sale can be found here. Insiders sold a total of 12,626 shares of company stock worth $389,339 over the last ninety days. Insiders own 3.80% of the company’s stock.
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Wright Medical Group 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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