Brokerages Anticipate Wright Medical Group Inc (WMGI) Will Announce Quarterly Sales of $216.92 Million
Equities analysts predict that Wright Medical Group Inc (NASDAQ:WMGI) will announce $216.92 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Wright Medical Group’s earnings. The lowest sales estimate is $215.60 million and the highest is $217.63 million. Wright Medical Group posted sales of $193.02 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.4%. The firm is scheduled to report its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Wright Medical Group will report full year sales of $216.92 million for the current year, with estimates ranging from $744.98 million to $760.30 million. For the next financial year, analysts anticipate that the company will post sales of $818.33 million per share, with estimates ranging from $806.46 million to $887.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow Wright Medical Group.
Wright Medical Group (NASDAQ:WMGI) last issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (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 company had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $173.50 million. During the same period last year, the business earned ($0.19) EPS. Wright Medical Group’s quarterly revenue was up 8.4% compared to the same quarter last year.
In other Wright Medical Group news, Director Richard F. Wallman bought 4,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $24.00 per share, with a total value of $96,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Gregory Morrison sold 92,140 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $23.70, for a total value of $2,183,718.00. The disclosure for this sale can be found here. Insiders sold a total of 92,440 shares of company stock valued at $2,190,875 over the last three months. 3.50% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its position in shares of Wright Medical Group by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock valued at $211,000 after purchasing an additional 640 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Wright Medical Group during the 2nd quarter valued at $267,000. Stevens Capital Management LP purchased a new stake in shares of Wright Medical Group during the 2nd quarter valued at $335,000. PNC Financial Services Group Inc. increased its position in shares of Wright Medical Group by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,424 shares of the medical device company’s stock valued at $342,000 after purchasing an additional 1,636 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Wright Medical Group by 2.0% during the 2nd quarter. Amalgamated Bank now owns 13,229 shares of the medical device company’s stock valued at $364,000 after purchasing an additional 264 shares during the last quarter.
Wright Medical Group (NASDAQ:WMGI) opened at $23.25 on Thursday. The stock has a market capitalization of $1,200.00, a price-to-earnings ratio of -4.91, a P/E/G ratio of 484.99 and a beta of 0.60. Wright Medical Group has a twelve month low of $22.00 and a twelve month 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.
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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