Wright Medical Group NV (NASDAQ:WMGI) – Research analysts at Leerink Swann lowered their Q3 2018 earnings per share estimates for Wright Medical Group in a note issued to investors on Thursday, August 9th. Leerink Swann analyst R. Newitter now forecasts that the medical device company will post earnings per share of ($0.18) for the quarter, down from their prior estimate of ($0.13). Leerink Swann currently has a “Outperform” rating and a $32.00 price target on the stock. Leerink Swann also issued estimates for Wright Medical Group’s Q4 2018 earnings at $0.07 EPS, FY2018 earnings at ($0.15) EPS, FY2019 earnings at $0.16 EPS and FY2020 earnings at $0.60 EPS.
Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Wednesday, August 8th. The medical device company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. The company had revenue of $205.40 million for the quarter, compared to analysts’ expectations of $197.20 million. Wright Medical Group had a negative return on equity of 1.94% and a negative net margin of 24.74%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) earnings per share.
Shares of WMGI stock opened at $27.73 on Monday. The company has a current ratio of 2.06, a quick ratio of 1.57 and a debt-to-equity ratio of 1.87. The firm has a market cap of $2.99 billion, a PE ratio of -126.05 and a beta of 0.90. Wright Medical Group has a 52 week low of $19.01 and a 52 week high of $29.89.
A number of institutional investors have recently bought and sold shares of WMGI. Point72 Asset Management L.P. bought a new position in Wright Medical Group in the second quarter valued at about $77,033,000. Voya Investment Management LLC boosted its holdings in Wright Medical Group by 2,709.2% in the second quarter. Voya Investment Management LLC now owns 1,303,936 shares of the medical device company’s stock valued at $33,850,000 after acquiring an additional 1,257,519 shares during the last quarter. Chicago Capital LLC bought a new position in Wright Medical Group in the first quarter valued at about $8,671,000. FMR LLC boosted its holdings in Wright Medical Group by 1.6% in the second quarter. FMR LLC now owns 15,895,471 shares of the medical device company’s stock valued at $412,647,000 after acquiring an additional 256,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Wright Medical Group in the second quarter valued at about $4,568,000.
In related news, SVP Jennifer S. Walker sold 11,466 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $28.60, for a total value of $327,927.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Lance A. Berry sold 6,683 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $24.61, for a total value of $164,468.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,888 shares of company stock worth $1,777,201. 4.00% of the stock is owned by company insiders.
About Wright Medical Group
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.
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