Wright Medical Group Inc (WMGI) Expected to Announce Earnings of $0.04 Per Share

Wall Street analysts predict that Wright Medical Group Inc (NASDAQ:WMGI) will report earnings of $0.04 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Wright Medical Group’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.07. Wright Medical Group posted earnings per share of ($0.06) in the same quarter last year, which would indicate a positive year over year growth rate of 166.7%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that Wright Medical Group will report full year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.33) to ($0.25). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.00 per share, with EPS estimates ranging from ($0.29) to $0.10. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $173.50 million. Wright Medical Group had a negative net margin of 38.40% and a negative return on equity of 6.27%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) earnings per share.

A number of brokerages have commented on WMGI. Barclays cut their price target on shares of Wright Medical Group from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. BidaskClub cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. ValuEngine cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Jefferies Group reiterated a “buy” rating on shares of Wright Medical Group in a research note on Friday, November 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $30.00 price objective on shares of Wright Medical Group in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Wright Medical Group currently has an average rating of “Buy” and a consensus price target of $31.89.

In other Wright Medical Group news, Director Richard F. Wallman purchased 4,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $24.00 per share, with a total value of $96,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gregory Morrison sold 92,140 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $23.70, for a total transaction of $2,183,718.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,440 shares of company stock worth $2,190,875. 3.50% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in Wright Medical Group by 158.5% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 106,000 shares of the medical device company’s stock valued at $2,353,000 after buying an additional 65,000 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Wright Medical Group by 5.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 498,132 shares of the medical device company’s stock valued at $11,059,000 after buying an additional 23,987 shares during the period. Factory Mutual Insurance Co. increased its holdings in Wright Medical Group by 55.8% in the 4th quarter. Factory Mutual Insurance Co. now owns 374,700 shares of the medical device company’s stock valued at $8,318,000 after buying an additional 134,200 shares during the period. California Public Employees Retirement System increased its holdings in Wright Medical Group by 8.1% in the 3rd quarter. California Public Employees Retirement System now owns 203,317 shares of the medical device company’s stock valued at $5,260,000 after buying an additional 15,177 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Wright Medical Group in the 3rd quarter valued at about $643,000.

Shares of Wright Medical Group (NASDAQ:WMGI) traded up $0.28 during mid-day trading on Tuesday, reaching $23.34. 1,273,600 shares of the company’s stock were exchanged, compared to its average volume of 1,057,700. The firm has a market capitalization of $2,436.92, a PE ratio of -8.81, a P/E/G ratio of 479.17 and a beta of 0.60. 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 12-month low of $22.00 and a 12-month high of $31.53.

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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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