Wright Medical Group NV (WMGI) Holdings Raised by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its position in Wright Medical Group NV (NASDAQ:WMGI) by 1,296.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,865 shares of the medical device company’s stock after acquiring an additional 195,764 shares during the period. Engineers Gate Manager LP’s holdings in Wright Medical Group were worth $6,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Strs Ohio lifted its position 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 worth $147,000 after purchasing an additional 5,100 shares during the period. Vishria Bird Financial Group LLC purchased a new stake in shares of Wright Medical Group in the 3rd quarter worth about $214,000. Cortina Asset Management LLC purchased a new stake in shares of Wright Medical Group in the 2nd quarter worth about $221,000. Jane Street Group LLC purchased a new stake in shares of Wright Medical Group in the 1st quarter worth about $235,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Wright Medical Group in the 1st quarter worth about $258,000.

In related news, SVP Jennifer S. Walker sold 11,466 shares of Wright Medical Group stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $28.60, for a total transaction of $327,927.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lance A. Berry sold 1,182 shares of Wright Medical Group stock in a transaction dated 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 three months, insiders have sold 14,305 shares of company stock valued at $405,239. 4.00% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently commented on the stock. BMO Capital Markets raised shares of Wright Medical Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $31.00 in a research report on Wednesday, August 29th. BidaskClub raised shares of Wright Medical Group from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Robert W. Baird raised their target price on shares of Wright Medical Group from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Jefferies Financial Group raised their target price on shares of Wright Medical Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Bank of America raised shares of Wright Medical Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $28.00 to $34.00 in a research report on Thursday, August 9th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.64.

NASDAQ:WMGI opened at $27.75 on Friday. Wright Medical Group NV has a 12 month low of $19.01 and a 12 month high of $29.50. The stock has a market capitalization of $2.89 billion, a PE ratio of -126.14 and a beta of 1.12. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.06 and a quick ratio of 1.57.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, August 8th. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $205.40 million during the quarter, compared to analysts’ expectations of $197.20 million. During the same period last year, the company posted ($0.07) EPS. Wright Medical Group’s revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Wright Medical Group NV will post -0.15 earnings per share for the current year.

About Wright Medical Group

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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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