Eaton Vance Management trimmed its position in Wright Medical Group NV (NASDAQ:WMGI) by 20.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,588 shares of the medical device company’s stock after selling 83,901 shares during the quarter. Eaton Vance Management owned approximately 0.25% of Wright Medical Group worth $9,245,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cortina Asset Management LLC acquired a new position in Wright Medical Group during the 2nd quarter valued at approximately $221,000. Schwab Charles Investment Management Inc. boosted its position in 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 period. Roanoke Asset Management Corp NY acquired a new position in Wright Medical Group during the 3rd quarter valued at approximately $376,000. Engineers Gate Manager LP boosted its position in Wright Medical Group by 1,296.4% during the 3rd quarter. Engineers Gate Manager LP now owns 210,865 shares of the medical device company’s stock valued at $6,119,000 after purchasing an additional 195,764 shares during the period. Finally, Tygh Capital Management Inc. boosted its position in 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 worth $6,276,000 after acquiring an additional 105,998 shares during the period.
A number of research analysts have issued reports on WMGI shares. Cantor Fitzgerald boosted their price target on Wright Medical Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, August 9th. Oppenheimer set a $28.00 price target on Wright Medical Group and gave the stock a “hold” rating in a research report on Thursday, August 9th. Bank of America upgraded Wright Medical Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $28.00 to $34.00 in a research report on Thursday, August 9th. Jefferies Financial Group boosted their price target on 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, Robert W. Baird boosted their price target on Wright Medical Group from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Wright Medical Group currently has an average rating of “Buy” and an average price target of $32.62.
WMGI opened at $27.34 on Thursday. Wright Medical Group NV has a one year low of $19.01 and a one year high of $30.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market capitalization of $3.50 billion, a PE ratio of -124.27 and a beta of 1.15.
Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings data on Wednesday, November 7th. The medical device company reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.06. Wright Medical Group had a negative return on equity of 0.60% and a negative net margin of 13.07%. The company had revenue of $194.11 million for the quarter, compared to the consensus estimate of $186.09 million. During the same quarter in the previous year, the business earned ($0.16) EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Wright Medical Group NV will post -0.07 EPS for the current year.
In other news, Director Elizabeth H. Weatherman sold 15,949 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $28.63, for a total value of $456,619.87. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Peter Cooke sold 20,662 shares of the business’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $29.28, for a total value of $604,983.36. The disclosure for this sale can be found here. Insiders sold a total of 67,466 shares of company stock worth $1,962,392 in the last three months. Company insiders own 4.00% of the company’s stock.
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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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