Wright Medical Group Inc (NASDAQ:WMGI) – Investment analysts at Cantor Fitzgerald issued their FY2017 earnings per share (EPS) estimates for shares of Wright Medical Group in a note issued to investors on Sunday, Zacks Investment Research reports. Cantor Fitzgerald analyst C. Bijou expects that the medical device company will earn $0.27 per share for the year. Cantor Fitzgerald has a “Buy” rating and a $30.00 price target on the stock. Cantor Fitzgerald also issued estimates for Wright Medical Group’s FY2018 earnings at $0.06 EPS.
Other equities research analysts also recently issued research reports about the company. Jefferies Group reiterated a “buy” rating and set a $33.00 price objective on shares of Wright Medical Group in a research report on Thursday, October 12th. Robert W. Baird reissued a “buy” rating and set a $33.00 target price on shares of Wright Medical Group in a research note on Friday, October 6th. Royal Bank of Canada reissued a “buy” rating and set a $31.00 target price on shares of Wright Medical Group in a research note on Tuesday, October 3rd. TheStreet downgraded shares of Wright Medical Group from a “c-” rating to a “d+” rating in a research note on Wednesday, December 27th. Finally, BidaskClub raised shares of Wright Medical Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Wright Medical Group presently has an average rating of “Buy” and an average target price of $31.89.
Shares of Wright Medical Group (NASDAQ:WMGI) opened at $22.70 on Wednesday. Wright Medical Group has a 52-week low of $22.00 and a 52-week high of $31.53. The company has a market capitalization of $2,466.51, a price-to-earnings ratio of -8.57, a PEG ratio of 484.99 and a beta of 0.60. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.31.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, meeting 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 company had revenue of $170.50 million during the quarter, compared to the consensus estimate of $173.50 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.
In related news, Director Richard F. Wallman purchased 4,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average cost of $24.00 per share, with a total value of $96,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gregory Morrison sold 92,140 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $23.70, for a total transaction of $2,183,718.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,540 shares of company stock worth $2,193,544. Company insiders own 9.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Wright Medical Group by 5.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 498,132 shares of the medical device company’s stock worth $11,059,000 after acquiring an additional 23,987 shares during the last quarter. Factory Mutual Insurance Co. increased its stake in shares of Wright Medical Group by 55.8% in the fourth quarter. Factory Mutual Insurance Co. now owns 374,700 shares of the medical device company’s stock worth $8,318,000 after acquiring an additional 134,200 shares during the last quarter. California Public Employees Retirement System increased its position in Wright Medical Group by 8.1% during the third quarter. California Public Employees Retirement System now owns 203,317 shares of the medical device company’s stock worth $5,260,000 after buying an additional 15,177 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Wright Medical Group during the third quarter worth $643,000. Finally, Jane Street Group LLC increased its position in Wright Medical Group by 75.7% during the third quarter. Jane Street Group LLC now owns 18,099 shares of the medical device company’s stock worth $468,000 after buying an additional 7,799 shares during the last quarter.
About Wright Medical Group
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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