Equities Analysts Offer Predictions for Wright Medical Group Inc’s FY2017 Earnings (WMGI)
Wright Medical Group Inc (NASDAQ:WMGI) – Investment analysts at Cantor Fitzgerald issued their FY2017 earnings estimates for shares of Wright Medical Group in a research report issued to clients and investors on Sunday. Cantor Fitzgerald analyst C. Bijou expects that the medical device company will post earnings of $0.27 per share for the year. Cantor Fitzgerald currently has a “Buy” rating and a $30.00 target price on the stock. Cantor Fitzgerald also issued estimates for Wright Medical Group’s FY2018 earnings at $0.06 EPS.
Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $173.50 million. During the same period in the previous year, the business earned ($0.19) EPS. Wright Medical Group’s revenue for the quarter was up 8.4% compared to the same quarter last year.
Shares of Wright Medical Group (WMGI) opened at $24.03 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52. Wright Medical Group has a twelve month low of $22.00 and a twelve month high of $31.53. The stock has a market capitalization of $1,240.00, a P/E ratio of -5.07, a price-to-earnings-growth ratio of 120.96 and a beta of 0.60.
In other news, SVP Gregory Morrison sold 92,140 shares of Wright Medical Group stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $23.70, for a total value of $2,183,718.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 price of $24.00 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 92,440 shares of company stock valued at $2,191,103. Insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Wright Medical Group by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock worth $104,000 after acquiring an additional 396 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Wright Medical Group by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock worth $211,000 after acquiring an additional 640 shares in the last quarter. Laurion Capital Management LP acquired a new position in Wright Medical Group during the 2nd quarter valued at approximately $267,000. Stevens Capital Management LP acquired a new position in Wright Medical Group during the 2nd quarter valued at approximately $335,000. Finally, PNC Financial Services Group Inc. boosted its position in 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 period.
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.
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