Wright Medical Group N.V. (NASDAQ:WMGI) had its target price decreased by stock analysts at BMO Capital Markets from $34.00 to $31.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the medical device company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 18.28% from the company’s current price.

A number of other brokerages also recently issued reports on WMGI. Oppenheimer Holdings, Inc. set a $30.00 price target on Wright Medical Group N.V. and gave the company a “hold” rating in a report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and set a $33.00 price target on shares of Wright Medical Group N.V. in a report on Thursday, October 12th. BidaskClub downgraded Wright Medical Group N.V. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Wright Medical Group N.V. in a report on Thursday. Finally, Royal Bank Of Canada restated a “buy” rating and set a $31.00 price target on shares of Wright Medical Group N.V. in a report on Tuesday, October 3rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.50.

Wright Medical Group N.V. (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). Wright Medical Group N.V. had a negative return on equity of 6.22% and a negative net margin of 36.04%. The company had revenue of $170.50 million for the quarter, compared to the consensus estimate of $173.50 million. During the same quarter in the previous year, the business earned ($0.19) EPS. Wright Medical Group N.V.’s revenue was up 8.4% compared to the same quarter last year.

ILLEGAL ACTIVITY NOTICE: This article was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/11/02/bmo-capital-markets-cuts-wright-medical-group-n-v-wmgi-price-target-to-31-00.html.

Several institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in shares of Wright Medical Group N.V. by 2.0% in the 2nd quarter. Amalgamated Bank now owns 13,229 shares of the medical device company’s stock worth $364,000 after buying an additional 264 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Wright Medical Group N.V. by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock worth $104,000 after buying an additional 396 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Wright Medical Group N.V. by 6.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,884 shares of the medical device company’s stock worth $217,000 after buying an additional 502 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Wright Medical Group N.V. by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 36,752 shares of the medical device company’s stock worth $1,009,000 after buying an additional 597 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Wright Medical Group N.V. by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock worth $211,000 after buying an additional 640 shares during the last quarter.

Wright Medical Group N.V. Company Profile

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.

Analyst Recommendations for Wright Medical Group N.V. (NASDAQ:WMGI)

Receive News & Ratings for Wright Medical Group N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wright Medical Group N.V. and related companies with MarketBeat.com's FREE daily email newsletter.