FY2019 EPS Estimates for Wright Medical Group NV Boosted by Analyst (WMGI)

Wright Medical Group NV (NASDAQ:WMGI) – Equities researchers at Piper Jaffray Companies upped their FY2019 earnings estimates for Wright Medical Group in a report issued on Wednesday, November 7th. Piper Jaffray Companies analyst M. O’brien now forecasts that the medical device company will post earnings per share of $0.17 for the year, up from their prior forecast of $0.15. Piper Jaffray Companies currently has a “Overweight” rating and a $35.00 price target on the stock.

Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share (EPS) for the quarter, topping the 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 13.07% and a negative return on equity of 0.70%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted ($0.16) EPS.

Several other analysts have also issued reports on WMGI. Needham & Company LLC raised their price target on shares of Wright Medical Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. Jefferies Financial Group lifted their target price on shares of Wright Medical Group from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Co lifted their target price on shares of Wright Medical Group from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird lifted their target price on shares of Wright Medical Group from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Oppenheimer set a $30.00 target price on shares of Wright Medical Group and gave the company a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.75.

NASDAQ WMGI opened at $30.19 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.06. Wright Medical Group has a 52-week low of $19.01 and a 52-week high of $30.75.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in Wright Medical Group by 17.9% in the third quarter. FMR LLC now owns 18,741,152 shares of the medical device company’s stock valued at $543,869,000 after buying an additional 2,845,681 shares in the last quarter. American International Group Inc. boosted its position in Wright Medical Group by 19.4% in the third quarter. American International Group Inc. now owns 82,498 shares of the medical device company’s stock valued at $2,394,000 after buying an additional 13,390 shares in the last quarter. BlackRock Inc. boosted its position in Wright Medical Group by 1.2% in the third quarter. BlackRock Inc. now owns 8,995,489 shares of the medical device company’s stock valued at $261,050,000 after buying an additional 106,353 shares in the last quarter. Janus Henderson Group PLC boosted its position in Wright Medical Group by 22.7% in the third quarter. Janus Henderson Group PLC now owns 3,305,277 shares of the medical device company’s stock valued at $95,919,000 after buying an additional 612,326 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Wright Medical Group by 48.0% in the third quarter. Alliancebernstein L.P. now owns 556,409 shares of the medical device company’s stock valued at $16,147,000 after buying an additional 180,334 shares in the last quarter.

In other news, insider Peter Cooke sold 13,478 shares of Wright Medical Group stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $28.03, for a total transaction of $377,788.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Lance A. Berry sold 1,182 shares of the business’s stock in a transaction dated 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. Over the last quarter, insiders have sold 36,979 shares of company stock worth $1,060,083. 4.00% of the stock is owned by company insiders.

Wright Medical Group Company Profile

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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