Wright Medical Group N.V. (WMGI) Earns Hold Rating from Needham & Company LLC

Wright Medical Group N.V. (NASDAQ:WMGI)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued on Thursday.

A number of other equities analysts have also commented on WMGI. Oppenheimer Holdings, Inc. set a $30.00 target price on shares of Wright Medical Group N.V. and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $34.00 target price on shares of Wright Medical Group N.V. in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $33.00 target price on shares of Wright Medical Group N.V. in a research report on Friday, August 4th. BidaskClub lowered shares of Wright Medical Group N.V. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $31.00 target price on shares of Wright Medical Group N.V. in a research report on Tuesday, October 3rd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Wright Medical Group N.V. currently has a consensus rating of “Buy” and an average price target of $32.20.

Wright Medical Group N.V. (NASDAQ:WMGI) last issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The business had revenue of $170.50 million for the quarter, compared to analyst estimates of $173.50 million. Wright Medical Group N.V. had a negative net margin of 36.04% and a negative return on equity of 6.22%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share.

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Several large investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Wright Medical Group N.V. by 5.7% during the second 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 during the period. Vanguard Group Inc. lifted its position in Wright Medical Group N.V. by 1.8% during 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 purchasing an additional 145,930 shares during the period. Fisher Asset Management LLC lifted its position in Wright Medical Group N.V. by 20.9% during 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 purchasing an additional 500,583 shares during the period. Capital Research Global Investors lifted its position in Wright Medical Group N.V. by 60.9% during the second quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock valued at $76,285,000 after purchasing an additional 1,050,000 shares during the period. Finally, Palo Alto Investors LLC lifted its position in Wright Medical Group N.V. by 1.8% during the second quarter. Palo Alto Investors LLC now owns 2,676,393 shares of the medical device company’s stock valued at $73,574,000 after purchasing an additional 48,200 shares during the period.

About Wright Medical Group N.V.

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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