Jefferies Financial Group Analysts Decrease Earnings Estimates for Wright Medical Group NV (NASDAQ:WMGI)

Wright Medical Group NV (NASDAQ:WMGI) – Analysts at Jefferies Financial Group decreased their Q3 2019 earnings estimates for shares of Wright Medical Group in a research note issued on Monday, October 14th. Jefferies Financial Group analyst R. Denhoy now forecasts that the medical device company will post earnings of ($0.09) per share for the quarter, down from their previous forecast of ($0.06).

Wright Medical Group (NASDAQ:WMGI) last released 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 business had revenue of $229.73 million for the quarter, compared to analyst estimates of $233.04 million. During the same period in the previous year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year.

WMGI has been the topic of several other reports. Bank of America lowered shares of Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Friday, August 9th. Wells Fargo & Co lowered shares of Wright Medical Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $28.00 to $23.00 in a research report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective (down from $38.00) on shares of Wright Medical Group in a research report on Tuesday, July 23rd. BMO Capital Markets decreased their price objective on shares of Wright Medical Group from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer decreased their price objective on shares of Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $30.50.

Wright Medical Group stock opened at $20.33 on Wednesday. Wright Medical Group has a 52 week low of $19.04 and a 52 week high of $32.86. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $20.59 and its 200 day simple moving average is $26.65. The firm has a market capitalization of $2.57 billion, a PE ratio of 226.67, a P/E/G ratio of 7.32 and a beta of 0.81.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Wright Medical Group during the 2nd quarter valued at about $56,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Wright Medical Group during the 2nd quarter valued at about $118,000. Cerebellum GP LLC acquired a new position in shares of Wright Medical Group during the 3rd quarter valued at about $119,000. Signition LP acquired a new position in shares of Wright Medical Group during the 2nd quarter valued at about $215,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Wright Medical Group during the 2nd quarter valued at about $282,000.

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

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

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