Q1 2018 EPS Estimates for Wright Medical Group Inc (WMGI) Cut by Needham & Company LLC

Wright Medical Group Inc (NASDAQ:WMGI) – Equities researchers at Needham & Company LLC reduced their Q1 2018 EPS estimates for Wright Medical Group in a research report issued on Wednesday. Needham & Company LLC analyst M. Matson now expects that the medical device company will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.02. Needham & Company LLC currently has a “Hold” rating on the stock. Needham & Company LLC also issued estimates for Wright Medical Group’s Q2 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.03 EPS, FY2018 earnings at $0.02 EPS and FY2019 earnings at $0.29 EPS.

Other equities analysts have also recently issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Wright Medical Group in a research report on Thursday, October 12th. Robert W. Baird restated a “buy” rating and issued a $33.00 price target on shares of Wright Medical Group in a research note on Friday, October 6th. Royal Bank of Canada reiterated a “buy” rating and set a $31.00 price objective on shares of Wright Medical Group in a research note on Tuesday, October 3rd. BMO Capital Markets lowered their price objective on shares of Wright Medical Group from $34.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Finally, Barclays decreased their price target on shares of Wright Medical Group from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Wright Medical Group has a consensus rating of “Hold” and an average target price of $32.22.

Wright Medical Group (NASDAQ WMGI) traded up $0.13 during trading hours on Monday, reaching $23.61. 473,900 shares of the company’s stock were exchanged, compared to its average volume of 1,029,608. 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 has a one year low of $22.14 and a one year high of $31.53.

Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The business had revenue of $170.50 million during the quarter, compared to the consensus estimate of $173.50 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.

Large investors have recently bought and sold shares of the company. Blue Jay Capital Management LLC increased its holdings in shares of Wright Medical Group by 4.7% during the 2nd quarter. Blue Jay Capital Management LLC now owns 320,420 shares of the medical device company’s stock worth $8,808,000 after purchasing an additional 14,255 shares during the period. Victory Capital Management Inc. boosted its position in shares of Wright Medical Group by 30.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,039,308 shares of the medical device company’s stock valued at $28,571,000 after acquiring an additional 243,630 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Wright Medical Group by 60.9% during the 2nd quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock valued at $76,285,000 after acquiring an additional 1,050,000 shares in the last quarter. Northern Trust Corp boosted its position in shares of Wright Medical Group by 3.4% during the 2nd quarter. Northern Trust Corp now owns 1,865,977 shares of the medical device company’s stock valued at $51,296,000 after acquiring an additional 60,840 shares in the last quarter. Finally, Elk Creek Partners LLC boosted its position in shares of Wright Medical Group by 12.4% during the 3rd quarter. Elk Creek Partners LLC now owns 1,021,475 shares of the medical device company’s stock valued at $26,426,000 after acquiring an additional 113,043 shares in the last quarter.

In other news, SVP Gregory Morrison sold 92,140 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $23.70, for a total transaction of $2,183,718.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Wallman acquired 4,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $24.00 per share, for a total transaction of $96,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 92,440 shares of company stock worth $2,191,500 in the last quarter. Insiders own 3.50% of the company’s stock.

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Wright Medical Group 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 (NASDAQ:WMGI)

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