Eagle Asset Management Inc. cut its stake in shares of Wright Medical Group NV (NASDAQ:WMGI) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,465,648 shares of the medical device company’s stock after selling 3,584 shares during the period. Eagle Asset Management Inc. owned about 1.16% of Wright Medical Group worth $30,236,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. FTB Advisors Inc. lifted its stake in Wright Medical Group by 34.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,963 shares of the medical device company’s stock valued at $40,000 after acquiring an additional 508 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Wright Medical Group during the 2nd quarter worth $56,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Wright Medical Group during the 2nd quarter worth $118,000. Cerebellum GP LLC bought a new stake in shares of Wright Medical Group during the 3rd quarter worth $119,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Wright Medical Group by 761.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,675 shares of the medical device company’s stock worth $138,000 after purchasing an additional 5,900 shares during the period.
A number of equities research analysts have recently commented on WMGI shares. Credit Suisse Group lowered their target price on Wright Medical Group from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Piper Jaffray Companies cut Wright Medical Group from an “overweight” rating to a “neutral” rating in a research note on Monday, November 4th. BMO Capital Markets lowered their target price on Wright Medical Group from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut Wright Medical Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $34.00 to $24.00 in a research note on Thursday, August 8th. Finally, ValuEngine upgraded Wright Medical Group from a “hold” rating to a “buy” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.09.
In related news, EVP Kevin D. Cordell sold 1,263 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $21.21, for a total value of $26,788.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Barry J. Regan bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $21.50 per share, with a total value of $215,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 94,654 shares of company stock valued at $2,021,859 and sold 3,357 shares valued at $70,822. Insiders own 3.80% of the company’s stock.
Shares of NASDAQ WMGI traded up $0.07 during mid-day trading on Friday, reaching $29.43. 6,641,200 shares of the company’s stock were exchanged, compared to its average volume of 2,444,006. The firm has a 50-day moving average price of $21.47 and a two-hundred day moving average price of $25.77. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 326.67, a price-to-earnings-growth ratio of 10.68 and a beta of 0.78. Wright Medical Group NV has a 52 week low of $19.04 and a 52 week high of $32.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.68.
Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Wednesday, August 7th. The medical device company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The company had revenue of $229.73 million during the quarter, compared to the consensus estimate of $233.04 million. Wright Medical Group had a positive return on equity of 1.38% and a negative net margin of 14.65%. Wright Medical Group’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, sell-side analysts forecast that Wright Medical Group NV will post 0.16 EPS for the current fiscal year.
About Wright Medical Group
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. 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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