Brokerages predict that Wright Medical Group Inc (NASDAQ:WMGI) will report earnings per share (EPS) of ($0.06) for the current quarter, Zacks Investment Research reports. Sixteen analysts have made estimates for Wright Medical Group’s earnings. The lowest EPS estimate is ($0.10) and the highest is $0.05. Wright Medical Group posted earnings of ($0.09) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The company is expected to issue its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Wright Medical Group will report full-year earnings of ($0.18) per share for the current year, with EPS estimates ranging from ($0.28) to ($0.05). For the next year, analysts anticipate that the business will report earnings of $0.16 per share, with EPS estimates ranging from ($0.17) to $0.39. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Wright Medical Group.
Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Tuesday, February 27th. The medical device company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. Wright Medical Group had a negative net margin of 27.19% and a negative return on equity of 3.78%. The firm had revenue of $217.60 million for the quarter, compared to analysts’ expectations of $215.69 million.
A number of analysts have recently commented on WMGI shares. TheStreet cut shares of Wright Medical Group from a “c-” rating to a “d+” rating in a report on Wednesday, December 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Wright Medical Group in a research report on Friday, January 5th. BidaskClub raised Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine lowered Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Oppenheimer set a $25.00 price target on Wright Medical Group and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.38.
Institutional investors and hedge funds have recently bought and sold shares of the company. Landscape Capital Management L.L.C. purchased a new position in shares of Wright Medical Group in the 4th quarter worth about $376,000. Jane Street Group LLC raised its position in Wright Medical Group by 75.7% in the 3rd quarter. Jane Street Group LLC now owns 18,099 shares of the medical device company’s stock worth $468,000 after buying an additional 7,799 shares during the last quarter. Invictus RG purchased a new position in Wright Medical Group in the 4th quarter worth about $411,000. Engineers Gate Manager LP purchased a new position in Wright Medical Group in the 3rd quarter worth about $511,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Wright Medical Group in the 4th quarter worth about $441,000.
Shares of WMGI stock traded down $0.61 during mid-day trading on Friday, reaching $19.63. 535,542 shares of the company’s stock traded hands, compared to its average volume of 969,682. Wright Medical Group has a 12 month low of $19.04 and a 12 month high of $31.11. The stock has a market cap of $2,078.93, a PE ratio of -89.23 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.42.
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About Wright Medical Group
Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.
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