Wright Medical Group Inc (NASDAQ:WMGI) – Investment analysts at Cantor Fitzgerald issued their FY2017 EPS estimates for Wright Medical Group in a research report issued to clients and investors on Sunday. Cantor Fitzgerald analyst C. Bijou anticipates that the medical device company will earn $0.27 per share for the year. Cantor Fitzgerald has a “Buy” rating and a $30.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Wright Medical Group’s FY2018 earnings at $0.06 EPS.
Several other brokerages also recently weighed in on WMGI. Jefferies Group reiterated a “buy” rating on shares of Wright Medical Group in a report on Friday, November 3rd. BidaskClub upgraded Wright Medical Group from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet downgraded Wright Medical Group from a “c-” rating to a “d+” rating in a report on Wednesday, December 27th. ValuEngine downgraded Wright Medical Group from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $30.00 price target on shares of Wright Medical Group in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $31.89.
Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). Wright Medical Group 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 the consensus estimate of $173.50 million. During the same period in the previous year, the firm posted ($0.19) EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently made changes to their positions in WMGI. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Wright Medical Group by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock valued at $104,000 after buying an additional 396 shares during the period. Prudential Financial Inc. grew its stake in shares of Wright Medical Group by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock valued at $211,000 after buying an additional 640 shares during the period. Laurion Capital Management LP purchased a new stake in shares of Wright Medical Group during the 2nd quarter valued at $267,000. Stevens Capital Management LP purchased a new stake in shares of Wright Medical Group during the 2nd quarter valued at $335,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Wright Medical Group by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,424 shares of the medical device company’s stock valued at $342,000 after buying an additional 1,636 shares during the period.
In other news, SVP Gregory Morrison sold 92,140 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $23.70, for a total transaction of $2,183,718.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Wallman acquired 4,000 shares of the stock in a transaction dated Friday, November 10th. The shares were bought at an average cost of $24.00 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 92,440 shares of company stock valued at $2,191,103 over the last quarter. 3.50% of the stock is currently owned by insiders.
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Wright Medical Group Company Profile
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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