Wright Medical Group Inc (NASDAQ:WMGI) – Analysts at Needham & Company LLC cut their Q1 2018 earnings estimates for shares of Wright Medical Group in a note issued to investors on Wednesday. Needham & Company LLC analyst M. Matson now forecasts that the medical device company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.02. Needham & Company LLC has a “Hold” rating on the stock. Needham & Company LLC also issued estimates for Wright Medical Group’s Q2 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.03 EPS, FY2018 earnings at $0.02 EPS and FY2019 earnings at $0.29 EPS.

Wright Medical Group (NASDAQ:WMGI) last announced its 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 had a negative return on equity of 6.27% and a negative net margin of 38.40%. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $173.50 million. During the same quarter last year, the firm posted ($0.19) EPS. The business’s revenue was up 8.4% on a year-over-year basis.

WMGI has been the topic of a number of other research reports. Robert W. Baird reiterated a “buy” rating and set a $33.00 target price on shares of Wright Medical Group in a research report on Friday, October 6th. Jefferies Group reiterated a “buy” rating and set a $33.00 target price on shares of Wright Medical Group in a research report on Thursday, October 12th. BMO Capital Markets decreased their target price on Wright Medical Group from $34.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 target price on shares of Wright Medical Group in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.22.

Wright Medical Group (WMGI) opened at $23.57 on Monday. Wright Medical Group has a 52-week low of $22.14 and a 52-week high of $31.53. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52.

Several institutional investors and hedge funds have recently modified their holdings of WMGI. Janus Henderson Group PLC acquired a new stake in shares of Wright Medical Group in the 2nd quarter worth $68,618,000. Capital Research Global Investors increased its stake in shares of Wright Medical Group by 60.9% in 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 acquiring an additional 1,050,000 shares during the last quarter. FMR LLC increased its stake in shares of Wright Medical Group by 5.7% in the 2nd quarter. FMR LLC now owns 15,644,806 shares of the medical device company’s stock worth $430,075,000 after acquiring an additional 845,909 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Wright Medical Group by 139.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,209,407 shares of the medical device company’s stock worth $33,247,000 after acquiring an additional 705,300 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Wright Medical Group by 20.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,890,789 shares of the medical device company’s stock worth $74,785,000 after acquiring an additional 500,583 shares during the last quarter.

In related news, SVP Gregory Morrison sold 92,140 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $23.70, for a total value of $2,183,718.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Wallman acquired 4,000 shares of Wright Medical Group stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average cost of $24.00 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 92,440 shares of company stock valued at $2,191,500. 9.30% of the stock is owned by corporate insiders.

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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.

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

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