Wright Medical Group NV (WMGI) Expected to Announce Earnings of -$0.15 Per Share

Equities research analysts expect Wright Medical Group NV (NASDAQ:WMGI) to report ($0.15) earnings per share for the current quarter, according to Zacks Investment Research. Fifteen analysts have provided estimates for Wright Medical Group’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.20). Wright Medical Group reported earnings per share of ($0.16) during the same quarter last year, which would indicate a positive year over year growth rate of 6.3%. The company is expected to issue its next earnings report on Wednesday, November 7th.

On average, analysts expect that Wright Medical Group will report full year earnings of ($0.15) per share for the current year, with EPS estimates ranging from ($0.25) to ($0.11). For the next financial year, analysts expect that the business will post earnings of $0.15 per share, with EPS estimates ranging from ($0.02) to $0.29. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Wednesday, August 8th. The medical device company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. The business had revenue of $205.40 million for the quarter, compared to analyst estimates of $197.20 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis.

Several brokerages have recently weighed in on WMGI. ValuEngine raised shares of Wright Medical Group from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Leerink Swann increased their price objective on shares of Wright Medical Group from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, June 21st. TheStreet raised shares of Wright Medical Group from a “d+” rating to a “c-” rating in a research report on Wednesday, June 13th. Piper Jaffray Companies upped their price target on shares of Wright Medical Group to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $25.00 price target on shares of Wright Medical Group in a research note on Tuesday, July 10th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $31.08.

NASDAQ WMGI traded down $0.02 on Thursday, hitting $28.84. 1,235,300 shares of the stock were exchanged, compared to its average volume of 1,223,943. The firm has a market capitalization of $3.02 billion, a P/E ratio of -131.09 and a beta of 1.11. Wright Medical Group has a 52 week low of $19.01 and a 52 week high of $29.50. The company has a current ratio of 2.06, a quick ratio of 1.57 and a debt-to-equity ratio of 1.87.

In other Wright Medical Group news, CFO Lance A. Berry sold 1,182 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $27.19, for a total transaction of $32,138.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jennifer S. Walker sold 11,466 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $28.60, for a total transaction of $327,927.60. The disclosure for this sale can be found here. Insiders have sold 14,405 shares of company stock worth $407,783 over the last quarter. Corporate insiders own 4.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Strs Ohio grew its stake in Wright Medical Group by 850.0% during the second quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock worth $147,000 after buying an additional 5,100 shares in the last quarter. Cortina Asset Management LLC acquired a new stake in Wright Medical Group during the second quarter worth about $221,000. Jane Street Group LLC acquired a new stake in Wright Medical Group during the first quarter worth about $235,000. A.R.T. Advisors LLC acquired a new stake in Wright Medical Group during the first quarter worth about $258,000. Finally, GSA Capital Partners LLP acquired a new stake in Wright Medical Group during the first quarter worth about $270,000.

About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. 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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