Wright Medical Group Inc (NASDAQ:WMGI) – Needham & Company issued their FY2019 earnings per share (EPS) estimates for Wright Medical Group in a note issued to investors on Thursday, according to Zacks Investment Research. Needham & Company analyst M. Matson forecasts that the medical device company will post earnings per share of $0.36 for the year. Needham & Company has a “Hold” rating on the stock.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Tuesday, February 21st. The medical device company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. The firm had revenue of $193.02 million for the quarter, compared to analyst estimates of $183.59 million. Wright Medical Group had a negative return on equity of 6.48% and a negative net margin of 71.90%. The company’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) EPS. COPYRIGHT VIOLATION WARNING: This news story was first published by Transcript Daily and is the property of of Transcript Daily. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://transcriptdaily.com/2017/04/22/wright-medical-group-inc-expected-to-post-fy2019-earnings-of-0-36-per-share-wmgi.html.
Several other brokerages have also recently commented on WMGI. BMO Capital Markets raised their price target on shares of Wright Medical Group to $31.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Bank of America Corp cut shares of Wright Medical Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 11th. They noted that the move was a valuation call. Northcoast Research raised shares of Wright Medical Group from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Tuesday, March 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Wright Medical Group in a research report on Wednesday, February 22nd. Finally, Guggenheim cut shares of Wright Medical Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 3rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $27.70.
In other news, Director Richard F. Wallman sold 16,375 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $28.25, for a total transaction of $462,593.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Miclot sold 20,618 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $28.50, for a total transaction of $587,613.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,800 shares of company stock worth $1,617,171. 9.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Wright Medical Group by 755.4% in the third quarter. Ameriprise Financial Inc. now owns 1,239,271 shares of the medical device company’s stock worth $30,399,000 after buying an additional 1,094,394 shares during the period. Eaton Vance Management bought a new stake in Wright Medical Group during the third quarter worth approximately $24,756,000. Foundation Asset Management LP bought a new stake in Wright Medical Group during the fourth quarter worth approximately $22,344,000. Peregrine Capital Management LLC bought a new stake in Wright Medical Group during the third quarter worth approximately $21,380,000. Finally, Columbus Circle Investors increased its stake in Wright Medical Group by 804.7% in the third quarter. Columbus Circle Investors now owns 893,231 shares of the medical device company’s stock worth $21,911,000 after buying an additional 794,504 shares in the last quarter.
About Wright Medical Group
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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