$237.35 Million in Sales A nticipated for Wright Medical Group NV (WMGI) This Quarter

$237.35 Million in Sales A nticipated for Wright Medical Group NV (WMGI) This Quarter

Wall Street analysts expect that Wright Medical Group NV (NASDAQ:WMGI) will announce $237.35 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Wright Medical Group’s earnings, with estimates ranging from $236.07 million to $238.15 million. Wright Medical Group posted sales of $217.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, February 26th.

According to Zacks, analysts expect that Wright Medical Group will report full year sales of $836.02 million for the current fiscal year, with estimates ranging from $835.00 million to $836.20 million. For the next fiscal year, analysts expect that the business will report sales of $957.70 million, with estimates ranging from $946.86 million to $964.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.06. The firm had revenue of $194.11 million for the quarter, compared to analysts’ expectations of $186.09 million. Wright Medical Group had a negative net margin of 13.07% and a negative return on equity of 0.60%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) earnings per share.

A number of research analysts have weighed in on the stock. Wells Fargo & Co boosted their target price on shares of Wright Medical Group from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. Piper Jaffray Companies boosted their target price on shares of Wright Medical Group to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 8th. Jefferies Financial Group boosted their target price on shares of Wright Medical Group from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 8th. Robert W. Baird boosted their target price on shares of Wright Medical Group from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. Finally, BidaskClub cut shares of Wright Medical Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $32.64.

In related news, Director Kevin C. Oboyle sold 32,723 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $30.06, for a total transaction of $983,653.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth H. Weatherman sold 15,949 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $28.63, for a total transaction of $456,619.87. The disclosure for this sale can be found here. Insiders have sold a total of 74,949 shares of company stock worth $2,209,064 over the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Federated Investors Inc. PA lifted its stake in shares of Wright Medical Group by 0.5% during the 3rd quarter. Federated Investors Inc. PA now owns 118,973 shares of the medical device company’s stock valued at $3,453,000 after buying an additional 650 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Wright Medical Group by 7.3% during the 4th quarter. Prudential Financial Inc. now owns 9,744 shares of the medical device company’s stock valued at $265,000 after buying an additional 666 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Wright Medical Group by 26.6% during the 4th quarter. Bank of Montreal Can now owns 4,242 shares of the medical device company’s stock valued at $115,000 after buying an additional 892 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Wright Medical Group during the 4th quarter valued at approximately $30,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Wright Medical Group by 17.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,580 shares of the medical device company’s stock valued at $206,000 after buying an additional 1,130 shares in the last quarter.

WMGI traded up $0.28 during midday trading on Friday, reaching $30.36. The company had a trading volume of 1,464,266 shares, compared to its average volume of 1,392,851. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -138.00, a PEG ratio of 12.13 and a beta of 1.03. Wright Medical Group has a 12-month low of $19.01 and a 12-month high of $30.75.

Wright Medical Group Company Profile

Wright Medical Group NV operates as a global medical device company, which engages in the design, manufacture, and distribution of biologic products. It provides surgical solutions for the foot and ankle market and its products include large joint implants for the hip and knee, extremity implants for the shoulder, elbow, hand, wrist and foot and biologic products, including bone graft substitutes.

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