Partner Fund Management L.P. purchased a new stake in Wright Medical Group NV (NASDAQ:WMGI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 804,187 shares of the medical device company’s stock, valued at approximately $23,338,000.

Other hedge funds have also recently made changes to their positions in the company. Strs Ohio grew its holdings in shares of Wright Medical Group by 850.0% in the 2nd quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock valued at $147,000 after buying an additional 5,100 shares during the period. Parametrica Management Ltd acquired a new position in shares of Wright Medical Group in the 3rd quarter valued at $204,000. Vishria Bird Financial Group LLC acquired a new position in shares of Wright Medical Group in the 3rd quarter valued at $214,000. Cortina Asset Management LLC acquired a new position in shares of Wright Medical Group in the 2nd quarter valued at $221,000. Finally, Partner Investment Management L.P. acquired a new position in shares of Wright Medical Group in the 3rd quarter valued at $282,000.

Shares of NASDAQ WMGI opened at $27.11 on Thursday. The firm has a market capitalization of $3.42 billion, a P/E ratio of -123.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.07. Wright Medical Group NV has a 1-year low of $19.01 and a 1-year high of $30.75.

Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.06. The firm had revenue of $194.11 million during the quarter, compared to analyst estimates of $186.09 million. Wright Medical Group had a negative net margin of 13.07% and a negative return on equity of 0.60%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) EPS. Sell-side analysts expect that Wright Medical Group NV will post -0.07 earnings per share for the current year.

Several equities analysts have recently issued reports on the stock. BidaskClub lowered shares of Wright Medical Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. UBS Group assumed coverage on shares of Wright Medical Group in a report on Wednesday, November 28th. They issued a “neutral” rating and a $31.00 price target for the company. Robert W. Baird boosted their price target on shares of Wright Medical Group from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, November 8th. Jefferies Financial Group boosted their price target on shares of Wright Medical Group from $31.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 8th. Finally, Piper Jaffray Companies upped their target price on shares of Wright Medical Group to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, November 8th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.62.

In other Wright Medical Group news, Director Elizabeth H. Weatherman sold 15,949 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $28.63, for a total value of $456,619.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Cooke sold 13,478 shares of the stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $28.03, for a total transaction of $377,788.34. The disclosure for this sale can be found here. Insiders have sold a total of 67,466 shares of company stock worth $1,962,392 over the last three months. Insiders own 4.00% of the company’s stock.

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Wright Medical Group Company Profile

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. 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.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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