Wright Medical Group N.V. (NASDAQ:WMGI) Rating Reiterated by Royal Bank Of Canada

Royal Bank Of Canada reiterated their buy rating on shares of Wright Medical Group N.V. (NASDAQ:WMGI) in a research note released on Thursday, November 2nd. The brokerage currently has a $30.00 price objective on the medical device company’s stock.

Several other equities research analysts have also weighed in on WMGI. BidaskClub raised Wright Medical Group N.V. from a sell rating to a hold rating in a report on Friday, August 11th. Needham & Company LLC restated a hold rating on shares of Wright Medical Group N.V. in a research note on Thursday, November 2nd. BMO Capital Markets cut their target price on Wright Medical Group N.V. from $34.00 to $31.00 and set an outperform rating for the company in a research note on Thursday, November 2nd. Barclays PLC cut their target price on Wright Medical Group N.V. from $33.00 to $30.00 and set an overweight rating for the company in a research note on Thursday, November 2nd. Finally, Jefferies Group LLC restated a buy rating and issued a $33.00 target price on shares of Wright Medical Group N.V. in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Wright Medical Group N.V. has an average rating of Buy and a consensus target price of $32.22.

Wright Medical Group N.V. (NASDAQ WMGI) traded down $0.07 during midday trading on Thursday, reaching $23.65. The company had a trading volume of 558,400 shares, compared to its average volume of 1,043,476. Wright Medical Group N.V. has a twelve month low of $22.14 and a twelve month high of $31.53. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 1.52.

Wright Medical Group N.V. (NASDAQ:WMGI) last announced its earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). Wright Medical Group N.V. had a negative return on equity of 6.27% and a negative net margin of 38.40%. The firm had revenue of $170.50 million during the quarter, compared to analyst estimates of $173.50 million. During the same period last year, the firm posted ($0.19) EPS. The business’s revenue was up 8.4% compared to the same quarter last year. equities analysts expect that Wright Medical Group N.V. will post -0.27 EPS for the current year.

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In related news, Director Richard F. Wallman bought 4,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were acquired at an average cost of $24.00 per share, with a total value of $96,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Gregory Morrison sold 92,140 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $23.70, for a total value of $2,183,718.00. The disclosure for this sale can be found here. Insiders have sold 92,340 shares of company stock worth $2,189,064 over the last three months. Insiders own 3.50% of the company’s stock.

Large investors have recently made changes to their positions in the company. Amalgamated Bank increased its position in Wright Medical Group N.V. by 2.0% during the second quarter. Amalgamated Bank now owns 13,229 shares of the medical device company’s stock valued at $364,000 after acquiring an additional 264 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Wright Medical Group N.V. by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock valued at $104,000 after acquiring an additional 396 shares during the last quarter. Teacher Retirement System of Texas increased its position in Wright Medical Group N.V. by 6.8% during the second quarter. Teacher Retirement System of Texas now owns 7,884 shares of the medical device company’s stock valued at $217,000 after acquiring an additional 502 shares during the last quarter. Legal & General Group Plc increased its position in Wright Medical Group N.V. by 1.7% during the second quarter. Legal & General Group Plc now owns 36,752 shares of the medical device company’s stock valued at $1,009,000 after acquiring an additional 597 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Wright Medical Group N.V. by 9.1% during the second quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock valued at $211,000 after acquiring an additional 640 shares during the last quarter.

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.

Analyst Recommendations for Wright Medical Group N.V. (NASDAQ:WMGI)

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