Gabelli Funds LLC lowered its position in shares of Wright Medical Group NV (NASDAQ:WMGI) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 471,000 shares of the medical device company’s stock after selling 88,500 shares during the quarter. Gabelli Funds LLC owned 0.44% of Wright Medical Group worth $13,668,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of WMGI. Amalgamated Bank raised its holdings in shares of Wright Medical Group by 14.9% in the 2nd quarter. Amalgamated Bank now owns 16,232 shares of the medical device company’s stock worth $421,000 after purchasing an additional 2,102 shares during the period. Rhumbline Advisers grew its stake in Wright Medical Group by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 99,783 shares of the medical device company’s stock valued at $2,590,000 after buying an additional 4,294 shares in the last quarter. Strs Ohio grew its stake in Wright Medical Group by 850.0% in the 2nd quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock valued at $147,000 after buying an additional 5,100 shares in the last quarter. Principal Financial Group Inc. grew its stake in Wright Medical Group by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 92,781 shares of the medical device company’s stock valued at $1,841,000 after buying an additional 6,084 shares in the last quarter. Finally, Vishria Bird Financial Group LLC purchased a new position in Wright Medical Group in the 3rd quarter valued at approximately $214,000.
A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Wright Medical Group from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Needham & Company LLC lifted their price objective on shares of Wright Medical Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, October 25th. Piper Jaffray Companies lifted their price objective on shares of Wright Medical Group to $35.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets upgraded shares of Wright Medical Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $31.00 in a research note on Wednesday, August 29th. Finally, BidaskClub upgraded shares of Wright Medical Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Wright Medical Group currently has a consensus rating of “Buy” and a consensus target price of $32.75.
WMGI opened at $30.19 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of -137.23 and a beta of 1.06. The company has a quick ratio of 1.57, a current ratio of 2.06 and a debt-to-equity ratio of 1.87. Wright Medical Group NV has a one year low of $19.01 and a one year high of $30.75.
Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings results on Wednesday, November 7th. The medical device company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The firm had revenue of $194.11 million during the quarter, compared to analyst estimates of $186.09 million. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) EPS. Sell-side analysts forecast that Wright Medical Group NV will post -0.15 EPS for the current fiscal year.
In other news, CFO Lance A. Berry sold 1,182 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $27.19, for a total transaction of $32,138.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Cooke sold 20,662 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $29.28, for a total transaction of $604,983.36. The disclosure for this sale can be found here. Insiders have sold a total of 36,979 shares of company stock valued at $1,060,083 over the last 90 days. Company insiders own 4.00% of the company’s stock.
Wright Medical Group Profile
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.
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