Insider Selling: Wright Medical Group NV (WMGI) Insider Sells 20,662 Shares of Stock

Wright Medical Group NV (NASDAQ:WMGI) insider Peter Cooke sold 20,662 shares of the company’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $29.28, for a total transaction of $604,983.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Peter Cooke also recently made the following trade(s):

  • On Friday, November 2nd, Peter Cooke sold 13,478 shares of Wright Medical Group stock. The stock was sold at an average price of $28.03, for a total transaction of $377,788.34.

WMGI traded up $0.44 during trading on Friday, hitting $30.19. The stock had a trading volume of 2,891,983 shares, compared to its average volume of 1,230,232. Wright Medical Group NV has a twelve month low of $19.01 and a twelve month high of $30.75. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.06.

Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. The company had revenue of $194.11 million during the quarter, compared to the consensus estimate of $186.09 million. Wright Medical Group had a negative net margin of 13.07% and a negative return on equity of 0.70%. Wright Medical Group’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. Equities analysts expect that Wright Medical Group NV will post -0.05 EPS for the current fiscal year.

A number of equities analysts have commented on WMGI shares. Cantor Fitzgerald upped 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 price objective on shares of Wright Medical Group and gave the company a “hold” rating in a research note on Thursday, August 9th. Bank of America upgraded shares of Wright Medical Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Thursday, August 9th. Jefferies Financial Group increased their price objective on shares of Wright Medical Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Finally, Robert W. Baird increased their price objective on shares of Wright Medical Group from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Wright Medical Group presently has an average rating of “Buy” and a consensus price target of $32.75.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in Wright Medical Group by 17.9% in the third quarter. FMR LLC now owns 18,741,152 shares of the medical device company’s stock valued at $543,869,000 after acquiring an additional 2,845,681 shares in the last quarter. American International Group Inc. boosted its stake in Wright Medical Group by 19.4% in the third quarter. American International Group Inc. now owns 82,498 shares of the medical device company’s stock valued at $2,394,000 after acquiring an additional 13,390 shares in the last quarter. BlackRock Inc. boosted its stake in Wright Medical Group by 1.2% in the third quarter. BlackRock Inc. now owns 8,995,489 shares of the medical device company’s stock valued at $261,050,000 after acquiring an additional 106,353 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Wright Medical Group by 22.7% in the third quarter. Janus Henderson Group PLC now owns 3,305,277 shares of the medical device company’s stock valued at $95,919,000 after acquiring an additional 612,326 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Wright Medical Group by 48.0% in the third quarter. Alliancebernstein L.P. now owns 556,409 shares of the medical device company’s stock valued at $16,147,000 after acquiring an additional 180,334 shares in the last quarter.

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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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