Wright Medical Group N.V. (NASDAQ:WMGI) Expected to Announce Quarterly Sales of $174.71 Million

Analysts expect that Wright Medical Group N.V. (NASDAQ:WMGI) will post sales of $174.71 million for the current quarter, Zacks Investment Research reports. Seventeen analysts have made estimates for Wright Medical Group N.V.’s earnings, with estimates ranging from $171.70 million to $177.73 million. Wright Medical Group N.V. reported sales of $157.33 million during the same quarter last year, which would indicate a positive year over year growth rate of 11%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.

On average, analysts expect that Wright Medical Group N.V. will report full-year sales of $174.71 million for the current year, with estimates ranging from $755.00 million to $765.25 million. For the next fiscal year, analysts forecast that the company will post sales of $858.06 million per share, with estimates ranging from $847.50 million to $887.20 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Wright Medical Group N.V..

Wright Medical Group N.V. (NASDAQ:WMGI) last released its quarterly earnings data on Wednesday, August 2nd. The medical device company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. Wright Medical Group N.V. had a negative return on equity of 6.22% and a negative net margin of 36.04%. The company had revenue of $179.69 million for the quarter, compared to analyst estimates of $178.17 million. During the same period in the previous year, the company posted ($0.11) EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year.

Several equities analysts recently weighed in on the company. ValuEngine upgraded Wright Medical Group N.V. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Wright Medical Group N.V. from a “sell” rating to a “hold” rating in a research report on Friday. Piper Jaffray Companies reiterated a “buy” rating and set a $34.00 target price on shares of Wright Medical Group N.V. in a research report on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $33.00 target price on shares of Wright Medical Group N.V. in a research report on Friday, August 4th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $34.00 target price on shares of Wright Medical Group N.V. in a research report on Thursday, May 4th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $32.25.

Shares of Wright Medical Group N.V. (WMGI) opened at 27.80 on Friday. The company’s market capitalization is $2.90 billion. The company’s 50 day moving average price is $27.24 and its 200-day moving average price is $27.94. Wright Medical Group N.V. has a 1-year low of $20.50 and a 1-year high of $31.53.

In other news, SVP Jonathan Wesley Porter sold 2,490 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $27.09, for a total value of $67,454.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lance A. Berry sold 6,685 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $27.14, for a total value of $181,430.90. The disclosure for this sale can be found here. Insiders sold 40,655 shares of company stock worth $1,116,708 over the last 90 days. Company insiders own 9.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Palo Alto Investors LLC boosted its stake in shares of Wright Medical Group N.V. by 0.9% in the first quarter. Palo Alto Investors LLC now owns 2,628,193 shares of the medical device company’s stock valued at $81,789,000 after buying an additional 23,600 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in shares of Wright Medical Group N.V. during the first quarter valued at about $598,000. Norges Bank purchased a new stake in shares of Wright Medical Group N.V. during the fourth quarter valued at about $4,711,000. Spark Investment Management LLC purchased a new stake in shares of Wright Medical Group N.V. during the first quarter valued at about $1,300,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Wright Medical Group N.V. by 10.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 432,050 shares of the medical device company’s stock valued at $13,446,000 after buying an additional 40,642 shares during the period.

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About Wright Medical Group N.V.

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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Earnings History and Estimates for Wright Medical Group N.V. (NASDAQ:WMGI)

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