Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Wright Medical Group Inc (NASDAQ:WMGI) by 158.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 106,000 shares of the medical device company’s stock after buying an additional 65,000 shares during the quarter. Wright Medical Group accounts for approximately 1.7% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 23rd largest holding. Mitsubishi UFJ Asset Management UK Ltd. owned 0.10% of Wright Medical Group worth $2,353,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Wright Medical Group by 11.6% in the 2nd 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 period. Prudential Financial Inc. increased its position in shares of Wright Medical Group by 9.1% in the second quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock worth $211,000 after purchasing an additional 640 shares during the last quarter. Laurion Capital Management LP bought a new position in shares of Wright Medical Group in the second quarter worth approximately $267,000. Stevens Capital Management LP bought a new position in shares of Wright Medical Group in the second quarter worth approximately $335,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Wright Medical Group by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 12,424 shares of the medical device company’s stock worth $342,000 after purchasing an additional 1,636 shares during the last quarter.
In related news, Director Richard F. Wallman purchased 4,000 shares of Wright Medical Group stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $24.00 per share, for a total transaction of $96,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Gregory Morrison sold 92,140 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were 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. In the last quarter, insiders sold 92,440 shares of company stock valued at $2,190,875. 9.30% of the stock is owned by corporate insiders.
Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). The business had revenue of $170.50 million during the quarter, compared to the consensus estimate of $173.50 million. Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.19) earnings per share. sell-side analysts predict that Wright Medical Group Inc will post -0.27 EPS for the current fiscal year.
WMGI has been the topic of several research analyst reports. Jefferies Group restated a “buy” rating on shares of Wright Medical Group in a research report on Friday, November 3rd. BidaskClub upgraded shares of Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. TheStreet cut shares of Wright Medical Group from a “c-” rating to a “d+” rating in a research report on Wednesday, December 27th. ValuEngine cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $30.00 target price on shares of Wright Medical Group in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $31.89.
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About Wright Medical Group
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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