Traders Buy Large Volume of Put Options on Wright Medical Group N.V. (NASDAQ:WMGI)

Wright Medical Group N.V. (NASDAQ:WMGI) was the recipient of some unusual options trading on Thursday. Stock investors bought 1,289 put options on the company. This is an increase of Infinity compared to the average volume of 0 put options.

A number of institutional investors have recently modified their holdings of WMGI. Parametric Portfolio Associates LLC raised its stake in shares of Wright Medical Group N.V. by 6.4% in the first quarter. Parametric Portfolio Associates LLC now owns 43,362 shares of the medical device company’s stock valued at $1,349,000 after buying an additional 2,626 shares during the period. Prudential Financial Inc. bought a new stake in shares of Wright Medical Group N.V. in the first quarter valued at $219,000. Teachers Advisors LLC raised its stake in shares of Wright Medical Group N.V. by 0.8% in the first quarter. Teachers Advisors LLC now owns 650,077 shares of the medical device company’s stock valued at $20,230,000 after buying an additional 5,101 shares during the period. Legal & General Group Plc grew its position in shares of Wright Medical Group N.V. by 4.1% in the first quarter. Legal & General Group Plc now owns 36,155 shares of the medical device company’s stock valued at $1,125,000 after purchasing an additional 1,424 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Wright Medical Group N.V. by 4.4% in the first quarter. Vanguard Group Inc. now owns 8,086,950 shares of the medical device company’s stock valued at $251,666,000 after purchasing an additional 340,992 shares in the last quarter.

Several analysts have recently issued reports on the company. Robert W. Baird reissued a “buy” rating and set a $33.00 target price on shares of Wright Medical Group N.V. in a report on Friday, October 6th. Needham & Company LLC restated a “hold” rating on shares of Wright Medical Group N.V. in a research report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and set a $33.00 price objective on shares of Wright Medical Group N.V. in a research report on Thursday, October 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Wright Medical Group N.V. in a research report on Thursday, November 2nd. Finally, BMO Capital Markets dropped their target price on Wright Medical Group N.V. from $34.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Wright Medical Group N.V. presently has an average rating of “Buy” and an average target price of $32.22.

Shares of Wright Medical Group N.V. (NASDAQ WMGI) opened at $23.65 on Tuesday. Wright Medical Group N.V. has a one year low of $22.14 and a one year high of $31.53. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.31 and a quick ratio of 0.96.

Wright Medical Group N.V. (NASDAQ:WMGI) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The company had revenue of $170.50 million for the quarter, compared to analyst estimates of $173.50 million. Wright Medical Group N.V. had a negative return on equity of 6.27% and a negative net margin of 38.40%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share. equities research analysts predict that Wright Medical Group N.V. will post -0.27 EPS for the current fiscal year.

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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.

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