Wall Street brokerages expect Wright Medical Group NV (NASDAQ:WMGI) to post $186.21 million in sales for the current quarter, according to Zacks Investment Research. Fifteen analysts have made estimates for Wright Medical Group’s earnings. The highest sales estimate is $188.08 million and the lowest is $184.03 million. Wright Medical Group reported sales of $170.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.2%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, November 7th.
According to Zacks, analysts expect that Wright Medical Group will report full-year sales of $821.07 million for the current year, with estimates ranging from $816.09 million to $829.53 million. For the next financial year, analysts forecast that the company will report sales of $925.59 million, with estimates ranging from $892.67 million to $972.47 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Wright Medical Group.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, August 8th. The medical device company reported ($0.03) EPS for the quarter, beating the Zacks’ 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 company had revenue of $205.40 million for the quarter, compared to analysts’ expectations of $197.20 million. During the same period in the prior year, the company posted ($0.07) EPS. Wright Medical Group’s revenue was up 14.3% compared to the same quarter last year.
Several analysts have issued reports on WMGI shares. Piper Jaffray Companies increased their target price on shares of Wright Medical Group to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Cantor Fitzgerald increased their target price on shares of Wright Medical Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Oppenheimer set a $28.00 target price on shares of Wright Medical Group and gave the stock a “hold” rating in a research note on Thursday, August 9th. Stifel Nicolaus started coverage on shares of Wright Medical Group in a research note on Tuesday, August 21st. They issued a “buy” rating and a $34.00 target price on the stock. Finally, ValuEngine upgraded shares of Wright Medical Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Wright Medical Group presently has an average rating of “Buy” and a consensus price target of $31.64.
In other news, SVP Jennifer S. Walker sold 11,466 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Cooke sold 13,478 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $28.03, for a total transaction of $377,788.34. The disclosure for this sale can be found here. Insiders sold a total of 27,783 shares of company stock worth $783,028 in the last three months. Insiders own 4.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Cortina Asset Management LLC bought a new position in shares of Wright Medical Group in the 2nd quarter worth $221,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Wright Medical Group by 4.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 552,912 shares of the medical device company’s stock valued at $14,354,000 after purchasing an additional 23,911 shares during the last quarter. Tygh Capital Management Inc. grew its holdings in shares of Wright Medical Group by 78.1% during the 2nd quarter. Tygh Capital Management Inc. now owns 241,775 shares of the medical device company’s stock valued at $6,276,000 after purchasing an additional 105,998 shares during the last quarter. Sivik Global Healthcare LLC bought a new position in shares of Wright Medical Group during the 2nd quarter valued at $2,204,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Wright Medical Group by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 92,781 shares of the medical device company’s stock valued at $1,841,000 after purchasing an additional 6,084 shares during the last quarter.
NASDAQ WMGI traded up $0.23 on Friday, hitting $27.70. The stock had a trading volume of 183,250 shares, compared to its average volume of 1,196,716. Wright Medical Group has a 52-week low of $19.01 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.06 and a quick ratio of 1.57. The stock has a market capitalization of $2.96 billion, a PE ratio of -126.05 and a beta of 1.06.
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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