Wright Medical Group NV (NASDAQ:WMGI) has been given a consensus rating of “Buy” by the sixteen brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $31.08.
Several analysts have commented on the stock. ValuEngine upgraded shares of Wright Medical Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. BMO Capital Markets upgraded shares of Wright Medical Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $31.00 in a research note on Wednesday, August 29th. Needham & Company LLC upgraded shares of Wright Medical Group from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, August 28th. BidaskClub cut shares of Wright Medical Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Stifel Nicolaus assumed coverage on shares of Wright Medical Group in a research note on Tuesday, August 21st. They set a “buy” rating and a $34.00 price objective for the company.
Shares of NASDAQ WMGI opened at $26.82 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.06 and a debt-to-equity ratio of 1.87. Wright Medical Group has a 12 month low of $19.01 and a 12 month high of $29.50. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -121.89 and a beta of 1.12.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Wednesday, August 8th. The medical device company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. The business had revenue of $205.40 million during the quarter, compared to analysts’ expectations of $197.20 million. During the same period in the previous year, the business posted ($0.07) EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that Wright Medical Group will post -0.15 earnings per share for the current year.
In related news, SVP Jennifer S. Walker sold 11,466 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were 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 Securities & Exchange Commission, which is available through this link. Also, CFO Lance A. Berry sold 1,182 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $27.19, for a total transaction of $32,138.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,405 shares of company stock valued at $407,783. Company insiders own 4.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio lifted its stake in shares of Wright Medical Group by 850.0% in the 2nd quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock valued at $147,000 after purchasing an additional 5,100 shares during the period. Cortina Asset Management LLC acquired a new position in shares of Wright Medical Group in the 2nd quarter valued at $221,000. Jane Street Group LLC purchased a new stake in Wright Medical Group in the 1st quarter worth $235,000. A.R.T. Advisors LLC acquired a new stake in shares of Wright Medical Group during the first quarter worth about $258,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Wright Medical Group during the first quarter worth about $270,000.
Wright Medical Group Company Profile
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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