Laurion Capital Management LP bought a new position in shares of Wright Medical Group NV (NASDAQ:WMGI) in the third quarter, HoldingsChannel.com reports. The firm bought 584,977 shares of the medical device company’s stock, valued at approximately $16,976,000.
A number of other large investors have also modified their holdings of WMGI. Partner Fund Management L.P. bought a new position in Wright Medical Group during the third quarter valued at approximately $23,338,000. Partner Investment Management L.P. bought a new position in Wright Medical Group during the third quarter valued at approximately $282,000. GSA Capital Partners LLP bought a new position in shares of Wright Medical Group in the third quarter worth approximately $1,829,000. Bellevue Group AG grew its holdings in shares of Wright Medical Group by 9.2% in the third quarter. Bellevue Group AG now owns 622,692 shares of the medical device company’s stock worth $18,071,000 after purchasing an additional 52,391 shares during the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in shares of Wright Medical Group by 64.9% in the third quarter. Sivik Global Healthcare LLC now owns 140,000 shares of the medical device company’s stock worth $4,063,000 after purchasing an additional 55,100 shares during the last quarter.
Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Wright Medical Group from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Needham & Company LLC upped their price objective on Wright Medical Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, October 25th. Piper Jaffray Companies increased their price target on Wright Medical Group to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 8th. BidaskClub lowered Wright Medical Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Finally, BMO Capital Markets upgraded Wright Medical Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $28.00 to $31.00 in a report on Wednesday, August 29th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $32.62.
NASDAQ:WMGI opened at $27.34 on Thursday. Wright Medical Group NV has a fifty-two week low of $19.01 and a fifty-two week high of $30.75. The firm has a market cap of $3.42 billion, a P/E ratio of -124.27 and a beta of 1.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.24.
Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. Wright Medical Group had a negative return on equity of 0.60% and a negative net margin of 13.07%. The company had revenue of $194.11 million for the quarter, compared to analyst estimates of $186.09 million. During the same quarter in the prior year, the firm posted ($0.16) EPS. Wright Medical Group’s quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Wright Medical Group NV will post -0.07 EPS for the current year.
In other Wright Medical Group news, insider Peter Cooke sold 20,662 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $29.28, for a total value of $604,983.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elizabeth H. Weatherman sold 15,949 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $28.63, for a total value of $456,619.87. The disclosure for this sale can be found here. Insiders have sold a total of 67,466 shares of company stock worth $1,962,392 in the last 90 days. 4.00% of the stock is currently owned by insiders.
Wright Medical Group Profile
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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