Insider Selling: Wright Medical Group NV (WMGI) SVP Sells 2,173 Shares of Stock

Wright Medical Group NV (NASDAQ:WMGI) SVP Andrew C. Morton sold 2,173 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $32.50, for a total transaction of $70,622.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

WMGI stock traded down $0.66 during trading on Friday, hitting $31.83. The company had a trading volume of 1,497,271 shares, compared to its average volume of 1,416,914. The company has a market capitalization of $4.08 billion, a P/E ratio of 808.50, a PEG ratio of 10.12 and a beta of 0.97. Wright Medical Group NV has a fifty-two week low of $22.55 and a fifty-two week high of $32.86. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $230.13 million during the quarter, compared to the consensus estimate of $226.10 million. Wright Medical Group had a negative net margin of 20.81% and a positive return on equity of 0.84%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Equities analysts anticipate that Wright Medical Group NV will post 0.21 EPS for the current year.



A number of hedge funds and other institutional investors have recently modified their holdings of WMGI. Teachers Advisors LLC lifted its holdings in Wright Medical Group by 48.0% in the 3rd quarter. Teachers Advisors LLC now owns 290,365 shares of the medical device company’s stock valued at $8,426,000 after acquiring an additional 94,189 shares during the last quarter. Legal & General Group Plc lifted its holdings in Wright Medical Group by 25.3% in the 3rd quarter. Legal & General Group Plc now owns 46,206 shares of the medical device company’s stock valued at $1,341,000 after acquiring an additional 9,336 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in Wright Medical Group by 0.5% in the 3rd quarter. Federated Investors Inc. PA now owns 118,973 shares of the medical device company’s stock valued at $3,453,000 after acquiring an additional 650 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in Wright Medical Group by 19.1% in the 4th quarter. Sit Investment Associates Inc. now owns 41,550 shares of the medical device company’s stock valued at $1,131,000 after acquiring an additional 6,650 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Wright Medical Group by 26.6% in the 4th quarter. Bank of Montreal Can now owns 4,242 shares of the medical device company’s stock valued at $115,000 after acquiring an additional 892 shares during the last quarter.

Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Wright Medical Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Wright Medical Group in a research report on Wednesday, April 10th. Cantor Fitzgerald upped their price target on shares of Wright Medical Group from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 27th. Credit Suisse Group upped their price target on shares of Wright Medical Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Finally, Jefferies Financial Group upped their price target on shares of Wright Medical Group to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Wright Medical Group currently has an average rating of “Buy” and an average target price of $34.92.

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About Wright Medical Group

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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