Leerink Swann Equities Analysts Cut Earnings Estimates for Wright Medical Group N.V. (WMGI)

Wright Medical Group N.V. (NASDAQ:WMGI) – Stock analysts at Leerink Swann decreased their FY2019 earnings estimates for Wright Medical Group N.V. in a research report issued to clients and investors on Thursday. Leerink Swann analyst R. Newitter now anticipates that the medical device company will earn $0.37 per share for the year, down from their prior estimate of $0.45.

Wright Medical Group N.V. (NASDAQ:WMGI) last released its earnings results on Wednesday, August 2nd. The medical device company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $179.69 million during the quarter, compared to the consensus estimate of $178.17 million. Wright Medical Group N.V. had a negative return on equity of 6.22% and a negative net margin of 36.04%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) earnings per share. TRADEMARK VIOLATION NOTICE: This news story was reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.truebluetribune.com/2017/10/13/leerink-swann-equities-analysts-cut-earnings-estimates-for-wright-medical-group-n-v-wmgi.html.

A number of other equities analysts have also recently issued reports on WMGI. BidaskClub raised shares of Wright Medical Group N.V. from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Wright Medical Group N.V. in a research note on Tuesday, October 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Wright Medical Group N.V. in a research note on Friday, October 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Wright Medical Group N.V. in a research note on Thursday. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $34.00 target price on shares of Wright Medical Group N.V. in a report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.20.

In related news, SVP Jennifer S. Walker sold 20,000 shares of Wright Medical Group N.V. stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $28.00, for a total transaction of $560,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in WMGI. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wright Medical Group N.V. by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock worth $104,000 after buying an additional 396 shares during the period. First Mercantile Trust Co. boosted its holdings in shares of Wright Medical Group N.V. by 21.7% during the 2nd quarter. First Mercantile Trust Co. now owns 4,380 shares of the medical device company’s stock worth $120,000 after buying an additional 780 shares during the period. Fortaleza Asset Management Inc. bought a new stake in shares of Wright Medical Group N.V. during the 2nd quarter worth about $148,000. US Bancorp DE boosted its holdings in shares of Wright Medical Group N.V. by 41.3% during the 2nd quarter. US Bancorp DE now owns 5,624 shares of the medical device company’s stock worth $155,000 after buying an additional 1,644 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Wright Medical Group N.V. by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock worth $211,000 after buying an additional 640 shares during the period.

Wright Medical Group N.V. Company Profile

Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.

Earnings History and Estimates for Wright Medical Group N.V. (NASDAQ:WMGI)

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