$216.94 Million in Sales Expected for Wright Medical Group Inc (WMGI) This Quarter

Wall Street analysts predict that Wright Medical Group Inc (NASDAQ:WMGI) will announce sales of $216.94 million for the current quarter, according to Zacks. Sixteen analysts have made estimates for Wright Medical Group’s earnings, with estimates ranging from $213.60 million to $231.70 million. Wright Medical Group reported sales of $193.02 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.4%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that Wright Medical Group will report full year sales of $216.94 million for the current fiscal year, with estimates ranging from $742.45 million to $760.30 million. For the next year, analysts forecast that the company will report sales of $818.42 million per share, with estimates ranging from $806.46 million to $887.20 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last announced its earnings results on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The company had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $173.50 million. Wright Medical Group had a negative return on equity of 6.27% and a negative net margin of 38.40%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) earnings per share.

Several research firms have weighed in on WMGI. Barclays cut their target price on Wright Medical Group from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. BidaskClub lowered Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. ValuEngine lowered Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Jefferies Group reaffirmed a “buy” rating on shares of Wright Medical Group in a research report on Friday, November 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $31.00 target price on shares of Wright Medical Group in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $32.22.

In other Wright Medical Group news, SVP Gregory Morrison sold 92,140 shares of Wright Medical Group stock in a transaction that occurred 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Richard F. Wallman purchased 4,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $24.00 per share, for a total transaction of $96,000.00. The disclosure for this purchase can be found here. Insiders sold 92,440 shares of company stock worth $2,191,103 in the last quarter. 9.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of Wright Medical Group by 5.7% during the 2nd quarter. FMR LLC now owns 15,644,806 shares of the medical device company’s stock valued at $430,075,000 after purchasing an additional 845,909 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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. Fisher Asset Management LLC boosted its stake in 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. Capital Research Global Investors raised its holdings in shares of Wright Medical Group by 60.9% in the second quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock worth $76,285,000 after buying an additional 1,050,000 shares during the last quarter. Finally, Palo Alto Investors LLC raised its holdings in shares of Wright Medical Group by 1.8% during the second quarter. Palo Alto Investors LLC now owns 2,676,393 shares of the medical device company’s stock worth $73,574,000 after purchasing an additional 48,200 shares during the last quarter.

Wright Medical Group (NASDAQ:WMGI) traded down $0.21 during trading on Friday, reaching $22.56. The company had a trading volume of 280,761 shares, compared to its average volume of 1,054,139. Wright Medical Group has a fifty-two week low of $22.14 and a fifty-two week high of $31.53. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52.

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Wright Medical Group Company Profile

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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