Wright Medical Group NV (NASDAQ:WMGI) Expected to Post Earnings of -$0.06 Per Share

Brokerages expect Wright Medical Group NV (NASDAQ:WMGI) to announce earnings of ($0.06) per share for the current fiscal quarter, Zacks reports. Sixteen analysts have made estimates for Wright Medical Group’s earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.11). Wright Medical Group reported earnings of ($0.09) per share in the same quarter last year, which would suggest a positive year over year growth rate of 33.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Wright Medical Group will report full-year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from ($0.02) to $0.21. For the next fiscal year, analysts forecast that the company will report earnings of $0.43 per share, with EPS estimates ranging from $0.30 to $0.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, August 7th. The medical device company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Wright Medical Group had a negative net margin of 14.65% and a positive return on equity of 1.38%. The firm had revenue of $229.73 million for the quarter, compared to analyst estimates of $233.04 million. During the same period in the prior year, the business posted ($0.03) EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year.



Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective (down from $38.00) on shares of Wright Medical Group in a report on Tuesday, July 23rd. Oppenheimer cut their target price on shares of Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Piper Jaffray Companies set a $27.00 target price on shares of Wright Medical Group and gave the stock a “buy” rating in a research note on Friday, August 16th. Bank of America downgraded shares of Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research note on Friday, August 9th. Finally, Royal Bank of Canada downgraded shares of Wright Medical Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $34.00 to $24.00 in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.50.

Shares of WMGI stock traded down $0.23 during trading hours on Friday, hitting $21.84. The company had a trading volume of 1,886,097 shares, compared to its average volume of 3,024,396. The company’s fifty day moving average is $25.56 and its 200 day moving average is $29.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.68. Wright Medical Group has a fifty-two week low of $20.46 and a fifty-two week high of $32.86. The stock has a market capitalization of $2.80 billion, a PE ratio of 245.22, a price-to-earnings-growth ratio of 8.94 and a beta of 0.69.

In other Wright Medical Group news, EVP Kevin D. Cordell sold 2,685 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.47, for a total value of $81,811.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Julie Andrews sold 1,447 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.65, for a total transaction of $44,350.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 94,654 shares of company stock worth $2,021,859 and have sold 13,810 shares worth $389,539. 3.80% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in WMGI. Nuveen Asset Management LLC purchased a new stake in shares of Wright Medical Group in the 2nd quarter valued at approximately $58,939,000. BlackRock Inc. increased its position in shares of Wright Medical Group by 15.4% in the 1st quarter. BlackRock Inc. now owns 10,498,608 shares of the medical device company’s stock valued at $330,182,000 after purchasing an additional 1,397,279 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Wright Medical Group in the 1st quarter valued at approximately $33,141,000. OppenheimerFunds Inc. increased its position in shares of Wright Medical Group by 144.3% in the 1st quarter. OppenheimerFunds Inc. now owns 1,500,702 shares of the medical device company’s stock valued at $47,197,000 after purchasing an additional 886,324 shares during the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new position in shares of Wright Medical Group in the 1st quarter valued at $23,781,000.

Wright Medical Group Company 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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