Equities research analysts expect Wright Medical Group NV (NASDAQ:WMGI) to report sales of $233.52 million for the current fiscal quarter, Zacks Investment Research reports. Sixteen analysts have made estimates for Wright Medical Group’s earnings. The lowest sales estimate is $230.89 million and the highest is $236.51 million. Wright Medical Group reported sales of $205.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.7%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, August 7th.
According to Zacks, analysts expect that Wright Medical Group will report full-year sales of $962.09 million for the current year, with estimates ranging from $959.79 million to $966.93 million. For the next year, analysts expect that the business will report sales of $1.07 billion, with estimates ranging from $1.06 billion to $1.09 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Wright Medical Group.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Tuesday, May 7th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Wright Medical Group had a positive return on equity of 0.84% and a negative net margin of 20.81%. The company had revenue of $230.13 million during the quarter, compared to the consensus estimate of $226.10 million. During the same period in the previous year, the company posted ($0.01) earnings per share. Wright Medical Group’s revenue for the quarter was up 15.9% on a year-over-year basis.
A number of research analysts have issued reports on the company. Oppenheimer decreased their price target on 2U from $83.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Wright Medical Group in a report on Wednesday, April 10th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Wright Medical Group has a consensus rating of “Buy” and a consensus price target of $35.17.
NASDAQ:WMGI traded up $0.36 during trading hours on Friday, reaching $26.89. The company had a trading volume of 1,038,200 shares, compared to its average volume of 1,457,057. Wright Medical Group has a 1-year low of $24.10 and a 1-year high of $32.86. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 658.25, a PEG ratio of 8.00 and a beta of 0.73. The stock has a 50 day moving average price of $29.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.70 and a current ratio of 0.91.
In other news, SVP Julie D. Dewey sold 4,665 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.35, for a total transaction of $141,582.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Julie Andrews sold 1,447 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.65, for a total value of $44,350.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,626 shares of company stock valued at $389,339. Corporate insiders own 3.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Federated Investors Inc. PA raised its stake in shares of Wright Medical Group by 53.9% during the 1st quarter. Federated Investors Inc. PA now owns 598,174 shares of the medical device company’s stock worth $18,812,000 after buying an additional 209,494 shares during the period. Toth Financial Advisory Corp raised its stake in shares of Wright Medical Group by 3.0% during the 1st quarter. Toth Financial Advisory Corp now owns 20,600 shares of the medical device company’s stock worth $648,000 after buying an additional 600 shares during the period. California Public Employees Retirement System raised its stake in shares of Wright Medical Group by 24.8% during the 1st quarter. California Public Employees Retirement System now owns 170,952 shares of the medical device company’s stock worth $5,376,000 after buying an additional 33,999 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Wright Medical Group by 144.3% during the 1st quarter. OppenheimerFunds Inc. now owns 1,500,702 shares of the medical device company’s stock worth $47,197,000 after buying an additional 886,324 shares during the period. Finally, FIL Ltd raised its stake in shares of Wright Medical Group by 0.4% during the 1st quarter. FIL Ltd now owns 352,891 shares of the medical device company’s stock worth $11,098,000 after buying an additional 1,399 shares during the period.
About Wright Medical Group
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. 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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