Oppenheimer Research Analysts Reduce Earnings Estimates for Wright Medical Group, Inc. (WMGI)

Wright Medical Group, Inc. (NASDAQ:WMGI) – Research analysts at Oppenheimer reduced their Q4 2018 EPS estimates for Wright Medical Group in a report issued on Thursday, May 10th. Oppenheimer analyst S. Lichtman now anticipates that the medical device company will earn $0.09 per share for the quarter, down from their prior estimate of $0.11. Oppenheimer currently has a “Hold” rating and a $25.00 target price on the stock.

Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Wednesday, May 9th. The medical device company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $198.54 million during the quarter, compared to the consensus estimate of $193.69 million. Wright Medical Group had a negative net margin of 22.11% and a negative return on equity of 2.58%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS.

A number of other analysts also recently weighed in on WMGI. ValuEngine downgraded shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. BidaskClub downgraded shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Barclays reaffirmed an “overweight” rating and set a $25.00 price objective (down previously from $27.00) on shares of Wright Medical Group in a research report on Wednesday, February 28th. Finally, BMO Capital Markets reduced their price objective on shares of Wright Medical Group from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Wright Medical Group presently has an average rating of “Buy” and a consensus price target of $29.38.

NASDAQ:WMGI opened at $23.85 on Monday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -108.41 and a beta of 0.67. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.42 and a quick ratio of 0.95. Wright Medical Group has a fifty-two week low of $23.46 and a fifty-two week high of $24.17.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its holdings in Wright Medical Group by 1.9% in the 4th quarter. Swiss National Bank now owns 167,094 shares of the medical device company’s stock worth $3,709,000 after acquiring an additional 3,100 shares during the last quarter. Comgest Global Investors S.A.S. purchased a new position in Wright Medical Group during the 4th quarter valued at about $1,991,000. Iguana Healthcare Management LLC purchased a new position in Wright Medical Group during the 4th quarter valued at about $444,000. Peregrine Capital Management LLC grew its holdings in Wright Medical Group by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 988,636 shares of the medical device company’s stock valued at $21,948,000 after buying an additional 6,202 shares in the last quarter. Finally, Endurant Capital Management LP grew its holdings in Wright Medical Group by 670.7% during the 4th quarter. Endurant Capital Management LP now owns 305,200 shares of the medical device company’s stock valued at $6,775,000 after buying an additional 265,600 shares in the last quarter.

Wright Medical Group Company 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.

Earnings History and Estimates for Wright Medical Group (NASDAQ:WMGI)

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