Northcoast Research Weighs in on Wright Medical Group NV’s Q4 2018 Earnings (WMGI)

Wright Medical Group NV (NASDAQ:WMGI) – Analysts at Northcoast Research upped their Q4 2018 earnings estimates for Wright Medical Group in a research report issued on Thursday, November 8th, according to Zacks Investment Research. Northcoast Research analyst D. Keiser now anticipates that the medical device company will post earnings of $0.08 per share for the quarter, up from their prior estimate of $0.06. Northcoast Research also issued estimates for Wright Medical Group’s Q1 2019 earnings at $0.06 EPS and Q2 2019 earnings at $0.07 EPS.

Wright Medical Group (NASDAQ:WMGI) last issued its earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. The business had revenue of $194.11 million for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share.

Several other brokerages also recently weighed in on WMGI. Wells Fargo & Co lifted their target price on shares of Wright Medical Group from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, November 8th. Piper Jaffray Companies raised 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, November 8th. Jefferies Financial Group raised their price objective 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 raised their price objective 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. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $32.62.

Shares of NASDAQ:WMGI traded up $0.08 during midday trading on Friday, hitting $28.04. The stock had a trading volume of 1,317,400 shares, compared to its average volume of 1,245,154. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -127.45 and a beta of 1.15. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. Wright Medical Group has a 1 year low of $19.01 and a 1 year high of $30.75.

In other Wright Medical Group news, insider Peter Cooke sold 13,478 shares of Wright Medical Group stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $28.03, for a total transaction of $377,788.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth H. Weatherman sold 15,949 shares of Wright Medical Group stock in a transaction dated Monday, November 19th. The stock was 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. In the last 90 days, insiders have sold 67,466 shares of company stock valued at $1,962,392. 4.00% 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. Amalgamated Bank raised its position in Wright Medical Group by 14.9% during the second quarter. Amalgamated Bank now owns 16,232 shares of the medical device company’s stock worth $421,000 after acquiring an additional 2,102 shares during the last quarter. Rhumbline Advisers raised its position in Wright Medical Group by 4.5% during the second quarter. Rhumbline Advisers now owns 99,783 shares of the medical device company’s stock worth $2,590,000 after acquiring an additional 4,294 shares during the last quarter. Strs Ohio raised its position in Wright Medical Group by 850.0% during the second quarter. Strs Ohio now owns 5,700 shares of the medical device company’s stock worth $147,000 after acquiring an additional 5,100 shares during the last quarter. Principal Financial Group Inc. raised its position in Wright Medical Group by 7.0% during the first quarter. Principal Financial Group Inc. now owns 92,781 shares of the medical device company’s stock worth $1,841,000 after acquiring an additional 6,084 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Wright Medical Group in the third quarter valued at approximately $204,000.

Wright Medical Group Company 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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