Wright Medical Group Inc (WMGI) Expected to Post Earnings of $0.04 Per Share

Wall Street brokerages expect Wright Medical Group Inc (NASDAQ:WMGI) to post $0.04 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have issued estimates for Wright Medical Group’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.07. Wright Medical Group posted earnings per share of ($0.06) in the same quarter last year, which would indicate a positive year over year growth rate of 166.7%. The business is expected to issue its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Wright Medical Group will report full year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.33) to ($0.25). For the next financial year, analysts forecast that the business will report earnings of $0.00 per share, with EPS estimates ranging from ($0.29) to $0.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The company had revenue of $170.50 million during the quarter, compared to analyst estimates of $173.50 million. Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share.

A number of equities analysts have issued reports on WMGI shares. Cantor Fitzgerald set a $30.00 price objective on Wright Medical Group and gave the stock a “buy” rating in a report on Monday, January 8th. Jefferies Group reiterated a “buy” rating and issued a $33.00 price objective on shares of Wright Medical Group in a report on Thursday, October 12th. Robert W. Baird reiterated a “buy” rating and issued a $33.00 price objective on shares of Wright Medical Group in a report on Friday, October 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $31.00 price objective on shares of Wright Medical Group in a report on Tuesday, October 3rd. Finally, TheStreet downgraded Wright Medical Group from a “c-” rating to a “d+” rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $31.89.

In other news, SVP Gregory Morrison sold 92,140 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $23.70, for a total transaction of $2,183,718.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard F. Wallman purchased 4,000 shares of Wright Medical Group stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $24.00 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. Insiders have sold 92,440 shares of company stock valued at $2,190,875 over the last 90 days. Corporate insiders own 3.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. FMR LLC increased its holdings in 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 buying an additional 845,909 shares in the last quarter. Vanguard Group Inc. increased its holdings in Wright Medical Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,232,880 shares of the medical device company’s stock worth $226,321,000 after buying an additional 145,930 shares in the last quarter. Fisher Asset Management LLC increased its holdings in 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 buying an additional 500,583 shares in the last quarter. Capital Research Global Investors increased its holdings in 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 buying an additional 1,050,000 shares in the last quarter. Finally, Palo Alto Investors LLC increased its holdings in Wright Medical Group by 1.8% in the 2nd quarter. Palo Alto Investors LLC now owns 2,676,393 shares of the medical device company’s stock worth $73,574,000 after buying an additional 48,200 shares in the last quarter.

Wright Medical Group (WMGI) traded up $0.28 on Tuesday, reaching $23.34. The company’s stock had a trading volume of 1,273,600 shares, compared to its average volume of 1,057,700. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.31. The company has a market capitalization of $2,436.92, a P/E ratio of -8.81, a price-to-earnings-growth ratio of 479.17 and a beta of 0.60. Wright Medical Group has a twelve month low of $22.00 and a twelve month high of $31.53.

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Wright Medical Group 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.

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

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