Wright Medical Group (WMGI) Updates FY18 Earnings Guidance

Wright Medical Group (NASDAQ:WMGI) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of ($0.08)-($0.03) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.15). The company issued revenue guidance of $825-828 million, compared to the consensus revenue estimate of $827.65 million.Wright Medical Group also updated its FY 2018 guidance to $-0.08–0.03 EPS.

NASDAQ:WMGI traded up $2.12 on Thursday, reaching $29.85. 3,208,111 shares of the company’s stock were exchanged, compared to its average volume of 1,208,783. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.06 and a quick ratio of 1.57. The firm has a market capitalization of $2.93 billion, a PE ratio of -135.68 and a beta of 1.06. Wright Medical Group has a 52-week low of $19.01 and a 52-week high of $29.50.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.06. The company had revenue of $194.11 million for the quarter, compared to analyst estimates of $186.09 million. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.16) earnings per share. Analysts expect that Wright Medical Group will post -0.15 EPS for the current fiscal year.

WMGI has been the topic of a number of recent research reports. Piper Jaffray Companies boosted their price target on shares of Wright Medical Group to $32.00 and gave the stock an overweight rating in a research note on Thursday, August 9th. Cantor Fitzgerald upped their target price on shares of Wright Medical Group from $30.00 to $35.00 and gave the stock an overweight rating in a research note on Thursday, August 9th. Oppenheimer set a $28.00 target price on shares of Wright Medical Group and gave the stock a hold rating in a research note on Thursday, August 9th. Wells Fargo & Co upped their target price on shares of Wright Medical Group from $30.00 to $32.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Stifel Nicolaus started coverage on shares of Wright Medical Group in a research note on Tuesday, August 21st. They set a buy rating and a $34.00 target price on the stock. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $32.08.

In other Wright Medical Group news, insider Peter Cooke sold 13,478 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $28.03, for a total value of $377,788.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Lance A. Berry sold 1,182 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $27.19, for a total transaction of $32,138.58. The disclosure for this sale can be found here. Insiders have sold 16,317 shares of company stock worth $455,100 over the last 90 days. Insiders own 4.00% of the company’s stock.

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About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.

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

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