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.
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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