Wright Medical Group Inc (WMGI) Expected to Announce Quarterly Sales of $215.69 Million

Equities research analysts expect Wright Medical Group Inc (NASDAQ:WMGI) to report $215.69 million in sales for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Wright Medical Group’s earnings. The lowest sales estimate is $200.74 million and the highest is $217.63 million. Wright Medical Group reported sales of $193.02 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The firm is expected to issue its next earnings results after the market closes on Tuesday, February 27th.

According to Zacks, analysts expect that Wright Medical Group will report full-year sales of $215.69 million for the current fiscal year, with estimates ranging from $728.13 million to $745.02 million. For the next fiscal year, analysts anticipate that the company will post sales of $808.95 million per share, with estimates ranging from $805.79 million to $818.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Wright Medical Group.

Several research analysts recently weighed in on WMGI shares. ValuEngine lowered Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. TheStreet lowered Wright Medical Group from a “c-” rating to a “d+” rating in a research report on Wednesday, December 27th. Royal Bank of Canada restated a “buy” rating and set a $30.00 price target on shares of Wright Medical Group in a research report on Thursday, November 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of Wright Medical Group in a research report on Friday, January 5th. Finally, Barclays lowered their price target on Wright Medical Group from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Wright Medical Group currently has a consensus rating of “Hold” and a consensus target price of $31.89.

Shares of Wright Medical Group (NASDAQ WMGI) opened at $19.72 on Friday. The stock has a market capitalization of $2,102.98, a P/E ratio of -7.44, a PEG ratio of 152.34 and a beta of 0.60. Wright Medical Group has a 52-week low of $19.04 and a 52-week high of $31.53. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.31 and a quick ratio of 0.96.

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 92,440 shares of company stock valued at $2,190,875. Company insiders own 9.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in WMGI. Fisher Asset Management LLC raised its stake in shares of Wright Medical Group by 20.9% in the third quarter. Fisher Asset Management LLC now owns 2,890,789 shares of the medical device company’s stock valued at $74,785,000 after acquiring an additional 500,583 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in shares of Wright Medical Group in the third quarter valued at $402,000. Westfield Capital Management Co. LP raised its stake in shares of Wright Medical Group by 8.0% in the third quarter. Westfield Capital Management Co. LP now owns 2,619,914 shares of the medical device company’s stock valued at $67,777,000 after acquiring an additional 194,348 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Wright Medical Group by 13.4% in the third quarter. Macquarie Group Ltd. now owns 1,389,355 shares of the medical device company’s stock valued at $35,943,000 after acquiring an additional 164,003 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Wright Medical Group by 1.8% in the second quarter. Vanguard Group Inc. now owns 8,232,880 shares of the medical device company’s stock valued at $226,321,000 after acquiring an additional 145,930 shares in the last quarter.

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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.

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