Wright Medical Group N.V. (NASDAQ:WMGI) had its price target reduced by research analysts at Barclays PLC from $33.00 to $30.00 in a research note issued to investors on Thursday. The firm currently has an “overweight” rating on the medical device company’s stock. Barclays PLC’s price target would indicate a potential upside of 14.46% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Wright Medical Group N.V. in a report on Thursday. BMO Capital Markets decreased their price objective on shares of Wright Medical Group N.V. from $34.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Group LLC restated a “buy” rating and issued a $33.00 price objective on shares of Wright Medical Group N.V. in a report on Friday, August 4th. BidaskClub upgraded shares of Wright Medical Group N.V. from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $34.00 price objective on shares of Wright Medical Group N.V. in a report on Thursday, August 3rd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Wright Medical Group N.V. currently has a consensus rating of “Buy” and an average price target of $31.50.

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

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Institutional investors have recently added to or reduced their stakes in the business. Blue Jay Capital Management LLC lifted its holdings in Wright Medical Group N.V. by 4.7% during the 2nd quarter. Blue Jay Capital Management LLC now owns 320,420 shares of the medical device company’s stock worth $8,808,000 after buying an additional 14,255 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Wright Medical Group N.V. by 30.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,039,308 shares of the medical device company’s stock worth $28,571,000 after buying an additional 243,630 shares in the last quarter. Capital Research Global Investors lifted its holdings in Wright Medical Group N.V. by 60.9% during the 2nd quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock worth $76,285,000 after buying an additional 1,050,000 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Wright Medical Group N.V. by 13.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,425,566 shares of the medical device company’s stock worth $66,679,000 after buying an additional 293,687 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Wright Medical Group N.V. by 35.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,225,352 shares of the medical device company’s stock worth $33,685,000 after buying an additional 320,087 shares in 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)

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