Palo Alto Investors LLC Has $81.79 Million Position in Wright Medical Group N.V. (WMGI)

Palo Alto Investors LLC boosted its position in shares of Wright Medical Group N.V. (NASDAQ:WMGI) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,628,193 shares of the medical device company’s stock after buying an additional 23,600 shares during the period. Wright Medical Group N.V. accounts for 3.9% of Palo Alto Investors LLC’s investment portfolio, making the stock its 9th largest position. Palo Alto Investors LLC owned about 2.54% of Wright Medical Group N.V. worth $81,789,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Wright Medical Group N.V. during the first quarter worth approximately $207,000. Prudential Financial Inc. bought a new stake in shares of Wright Medical Group N.V. during the first quarter worth $219,000. Teacher Retirement System of Texas bought a new stake in shares of Wright Medical Group N.V. during the first quarter worth $230,000. Fairfield Bush & CO. bought a new stake in shares of Wright Medical Group N.V. during the first quarter worth $233,000. Finally, Independent Portfolio Consultants Inc. bought a new stake in shares of Wright Medical Group N.V. during the first quarter worth $276,000.

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

Wright Medical Group N.V. (NASDAQ:WMGI) traded down 0.19% on Tuesday, hitting $26.41. 903,788 shares of the company’s stock traded hands. Wright Medical Group N.V. has a 12 month low of $15.85 and a 12 month high of $31.53. The stock’s market cap is $2.74 billion. The stock has a 50 day moving average price of $27.49 and a 200-day moving average price of $27.11.

Wright Medical Group N.V. (NASDAQ:WMGI) last released its earnings results on Wednesday, May 3rd. The medical device company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.01. Wright Medical Group N.V. had a negative return on equity of 7.30% and a negative net margin of 63.46%. The business had revenue of $177.19 million during the quarter, compared to analysts’ expectations of $182.42 million. Equities analysts predict that Wright Medical Group N.V. will post ($0.30) earnings per share for the current fiscal year.

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A number of equities research analysts recently weighed in on WMGI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Wright Medical Group N.V. in a research note on Thursday, May 4th. BidaskClub downgraded shares of Wright Medical Group N.V. from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. set a $29.00 target price on shares of Wright Medical Group N.V. and gave the company a “hold” rating in a research note on Thursday, May 4th. Northcoast Research raised shares of Wright Medical Group N.V. from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, March 21st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 target price on shares of Wright Medical Group N.V. in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Wright Medical Group N.V. currently has a consensus rating of “Hold” and a consensus target price of $29.00.

In other Wright Medical Group N.V. news, VP Julie Andrews sold 1,480 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $27.11, for a total value of $40,122.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jennifer S. Walker sold 10,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $26.77, for a total value of $267,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,655 shares of company stock worth $556,708. Insiders own 3.50% of the company’s stock.

Wright Medical Group N.V. 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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