FY2019 Earnings Estimate for Wright Medical Group Inc (WMGI) Issued By Needham & Company

Wright Medical Group Inc (NASDAQ:WMGI) – Needham & Company issued their FY2019 EPS estimates for shares of Wright Medical Group in a research note issued on Thursday, Zacks Investment Research reports. Needham & Company analyst M. Matson forecasts that the medical device company will post earnings of $0.36 per share for the year. Needham & Company has a “Hold” rating on the stock.

Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Tuesday, February 21st. The medical device company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.05. The company earned $193.02 million during the quarter, compared to the consensus estimate of $183.59 million. Wright Medical Group had a negative net margin of 71.90% and a negative return on equity of 6.48%. Wright Medical Group’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share.

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Earnings History and Estimates for Wright Medical Group (NASDAQ:WMGI)

Several other research firms have also recently issued reports on WMGI. Bank of America Corp cut shares of Wright Medical Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 11th. They noted that the move was a valuation call. Northcoast Research raised shares of Wright Medical Group from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, March 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Wright Medical Group in a research note on Wednesday, February 22nd. BMO Capital Markets raised their price target on shares of Wright Medical Group to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Finally, Guggenheim cut shares of Wright Medical Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Wright Medical Group currently has a consensus rating of “Buy” and a consensus price target of $27.70.

Shares of Wright Medical Group (NASDAQ:WMGI) traded down 0.33% during midday trading on Friday, reaching $30.23. 660,406 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $29.91 and its 200 day moving average price is $25.66. The stock’s market capitalization is $3.09 billion. Wright Medical Group has a 1-year low of $15.85 and a 1-year high of $31.53.

In other Wright Medical Group news, Director John L. Miclot sold 20,618 shares of Wright Medical Group stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $28.50, for a total transaction of $587,613.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman sold 9,000 shares of Wright Medical Group stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $26.25, for a total transaction of $236,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,800 shares of company stock worth $1,617,171. 9.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in WMGI. Brown Advisory Inc. boosted its position in shares of Wright Medical Group by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 11,115 shares of the medical device company’s stock worth $256,000 after buying an additional 165 shares during the period. US Bancorp DE raised its stake in Wright Medical Group by 15.1% in the third quarter. US Bancorp DE now owns 5,686 shares of the medical device company’s stock worth $140,000 after buying an additional 746 shares in the last quarter. BlackRock Inc. raised its stake in Wright Medical Group by 3.5% in the third quarter. BlackRock Inc. now owns 27,669 shares of the medical device company’s stock worth $679,000 after buying an additional 940 shares in the last quarter. Granite Investment Partners LLC raised its stake in Wright Medical Group by 0.3% in the third quarter. Granite Investment Partners LLC now owns 405,269 shares of the medical device company’s stock worth $9,942,000 after buying an additional 1,346 shares in the last quarter. Finally, Nicholas Co. Inc. WI raised its stake in Wright Medical Group by 0.9% in the fourth quarter. Nicholas Co. Inc. WI now owns 184,760 shares of the medical device company’s stock worth $4,245,000 after buying an additional 1,595 shares in 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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