Castleark Management LLC Boosts Stake in Wright Medical Group NV (NASDAQ:WMGI)

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Castleark Management LLC boosted its stake in shares of Wright Medical Group NV (NASDAQ:WMGI) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,493 shares of the medical device company’s stock after buying an additional 25,265 shares during the period. Castleark Management LLC owned 0.30% of Wright Medical Group worth $11,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Northern Trust Corp grew its holdings in Wright Medical Group by 1.4% in the second quarter. Northern Trust Corp now owns 1,601,434 shares of the medical device company’s stock valued at $47,755,000 after purchasing an additional 21,637 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Wright Medical Group during the 2nd quarter worth approximately $8,499,000. Quantamental Technologies LLC purchased a new stake in Wright Medical Group during the 2nd quarter worth approximately $282,000. First Mercantile Trust Co. raised its holdings in shares of Wright Medical Group by 3.1% during the second quarter. First Mercantile Trust Co. now owns 16,754 shares of the medical device company’s stock valued at $500,000 after acquiring an additional 502 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Wright Medical Group in the second quarter valued at approximately $118,000.

Several analysts recently commented on WMGI shares. Oppenheimer dropped their price target on Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. BMO Capital Markets decreased their price objective on Wright Medical Group from $36.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price (down previously from $38.00) on shares of Wright Medical Group in a research note on Tuesday, July 23rd. Royal Bank of Canada lowered shares of Wright Medical Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $34.00 to $24.00 in a report on Thursday, August 8th. Finally, Credit Suisse Group reduced their target price on shares of Wright Medical Group from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.50.

In other news, Director Richard F. Wallman bought 23,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $21.56 per share, for a total transaction of $495,880.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elizabeth H. Weatherman bought 15,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $20.87 per share, with a total value of $313,050.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 94,654 shares of company stock valued at $2,021,859 and sold 3,357 shares valued at $70,822. Corporate insiders own 3.80% of the company’s stock.

WMGI stock traded up $0.34 during trading on Wednesday, reaching $20.44. 231,292 shares of the stock were exchanged, compared to its average volume of 2,204,358. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 222.78, a P/E/G ratio of 8.12 and a beta of 0.78. The business has a 50 day moving average price of $23.44 and a 200-day moving average price of $28.55. Wright Medical Group NV has a 1 year low of $19.42 and a 1 year high of $32.86.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, August 7th. The medical device company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $229.73 million during the quarter, compared to the consensus estimate of $233.04 million. Wright Medical Group had a negative net margin of 14.65% and a positive return on equity of 1.38%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. On average, research analysts anticipate that Wright Medical Group NV will post 0.17 EPS for the current year.

Wright Medical Group Profile

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. 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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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