-$0.06 EPS Expected for Wright Medical Group NV (NASDAQ:WMGI) This Quarter

Brokerages predict that Wright Medical Group NV (NASDAQ:WMGI) will report earnings per share (EPS) of ($0.06) for the current quarter, according to Zacks. Sixteen analysts have issued estimates for Wright Medical Group’s earnings. The lowest EPS estimate is ($0.11) and the highest is ($0.02). Wright Medical Group posted earnings per share of ($0.09) in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Wright Medical Group will report full-year earnings of $0.17 per share for the current fiscal year, with EPS estimates ranging from $0.11 to $0.21. For the next year, analysts expect that the company will post earnings of $0.43 per share, with EPS estimates ranging from $0.30 to $0.60. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data on Wednesday, August 7th. The medical device company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Wright Medical Group had a negative net margin of 14.65% and a positive return on equity of 1.38%. The firm had revenue of $229.73 million for the quarter, compared to the consensus estimate of $233.04 million. During the same period in the previous year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis.

Several equities analysts have commented on WMGI shares. Piper Jaffray Companies set a $27.00 price objective on shares of Wright Medical Group and gave the company a “buy” rating in a report on Friday, August 16th. BidaskClub downgraded shares of Wright Medical Group from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Bank of America downgraded shares of Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective (down from $38.00) on shares of Wright Medical Group in a report on Tuesday, July 23rd. Finally, Credit Suisse Group decreased their price objective on shares of Wright Medical Group from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.50.

In other Wright Medical Group news, insider Robert J. Palmisano bought 46,654 shares of Wright Medical Group stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $21.39 per share, with a total value of $997,929.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard F. Wallman bought 23,000 shares of Wright Medical Group stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $21.56 per share, with a total value of $495,880.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 94,654 shares of company stock valued at $2,021,859 and sold 3,357 shares valued at $70,822. Insiders own 3.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Wright Medical Group by 4.8% during the second quarter. BlackRock Inc. now owns 11,000,118 shares of the medical device company’s stock worth $328,024,000 after purchasing an additional 501,510 shares during the period. Chartwell Investment Partners LLC bought a new stake in Wright Medical Group during the second quarter worth about $2,539,000. Eaton Vance Management lifted its position in Wright Medical Group by 3.6% during the second quarter. Eaton Vance Management now owns 329,667 shares of the medical device company’s stock worth $9,831,000 after purchasing an additional 11,530 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in Wright Medical Group by 11.8% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 184,400 shares of the medical device company’s stock worth $5,499,000 after purchasing an additional 19,400 shares during the period. Finally, United Services Automobile Association lifted its position in Wright Medical Group by 22.2% during the second quarter. United Services Automobile Association now owns 26,487 shares of the medical device company’s stock worth $790,000 after purchasing an additional 4,819 shares during the period.

Shares of NASDAQ:WMGI traded down $0.11 on Tuesday, hitting $21.29. The company had a trading volume of 1,046,783 shares, compared to its average volume of 1,745,807. Wright Medical Group has a 1-year low of $19.42 and a 1-year high of $32.86. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 232.22, a P/E/G ratio of 8.47 and a beta of 0.79. The stock has a 50 day moving average price of $22.77 and a 200 day moving average price of $28.29. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.80.

About Wright Medical Group

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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