Wright Medical Group Inc (NASDAQ:WMGI) – Research analysts at Leerink Swann lowered their FY2017 earnings per share estimates for Wright Medical Group in a research note issued to investors on Tuesday. Leerink Swann analyst R. Newitter now expects that the medical device company will post earnings per share of ($0.32) for the year, down from their previous estimate of ($0.31). Leerink Swann also issued estimates for Wright Medical Group’s Q4 2017 earnings at $0.04 EPS.

Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data 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 had a negative net margin of 71.90% and a negative return on equity of 6.48%. The business had revenue of $177.19 million during the quarter, compared to the consensus estimate of $182.42 million.

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

A number of other brokerages have also recently issued reports on WMGI. Bank of America Corp cut shares of Wright Medical Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 11th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating on shares of Wright Medical Group in a research note on Monday, April 24th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price target on shares of Wright Medical Group in a research note on Thursday, May 4th. Needham & Company LLC reiterated a “hold” rating on shares of Wright Medical Group in a research note on Thursday, May 4th. Finally, Northcoast Research upgraded shares of Wright Medical Group from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, March 21st. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.36.

Wright Medical Group (NASDAQ:WMGI) traded up 0.25% on Friday, hitting $27.75. 187,978 shares of the company’s stock were exchanged. Wright Medical Group has a 52-week low of $15.85 and a 52-week high of $31.53. The stock’s market cap is $2.88 billion. The firm has a 50 day moving average price of $30.08 and a 200-day moving average price of $26.24.

A number of institutional investors have recently bought and sold shares of the stock. Eaton Vance Management bought a new position in Wright Medical Group during the third quarter valued at about $24,756,000. Foundation Asset Management LP acquired a new stake in Wright Medical Group during the fourth quarter valued at approximately $22,344,000. Peregrine Capital Management LLC acquired a new stake in Wright Medical Group during the third quarter valued at approximately $21,380,000. D. E. Shaw & Co. Inc. raised its stake in Wright Medical Group by 105.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,074,132 shares of the medical device company’s stock valued at $26,348,000 after buying an additional 550,990 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Wright Medical Group by 66.4% in the first quarter. OppenheimerFunds Inc. now owns 879,138 shares of the medical device company’s stock valued at $27,359,000 after buying an additional 350,708 shares during the last quarter.

In other Wright Medical Group news, Director John L. Miclot sold 20,618 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $28.50, for a total transaction of $587,613.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard F. Wallman sold 16,375 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $28.25, for a total transaction of $462,593.75. The disclosure for this sale can be found here. Insiders have sold a total of 48,800 shares of company stock worth $1,380,921 in the last 90 days. Company insiders own 9.30% of the company’s stock.

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.

5 Day Chart for NASDAQ:WMGI

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