Barclays PLC Lowers Stake in Wright Medical Group NV (NASDAQ:WMGI)

Barclays PLC trimmed its stake in shares of Wright Medical Group NV (NASDAQ:WMGI) by 99.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,713 shares of the medical device company’s stock after selling 2,405,391 shares during the quarter. Barclays PLC’s holdings in Wright Medical Group were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in WMGI. Federated Investors Inc. PA boosted its stake in shares of Wright Medical Group by 0.5% in 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 purchasing an additional 650 shares during the last quarter. Prudential Financial Inc. boosted its stake in Wright Medical Group by 7.3% during the fourth quarter. Prudential Financial Inc. now owns 9,744 shares of the medical device company’s stock worth $265,000 after acquiring an additional 666 shares in the last quarter. FTB Advisors Inc. boosted its stake in Wright Medical Group by 94.9% during the fourth quarter. FTB Advisors Inc. now owns 1,604 shares of the medical device company’s stock worth $43,000 after acquiring an additional 781 shares in the last quarter. Bank of Montreal Can boosted its stake in Wright Medical Group by 26.6% during the fourth quarter. Bank of Montreal Can now owns 4,242 shares of the medical device company’s stock worth $115,000 after acquiring an additional 892 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Wright Medical Group during the fourth quarter worth $30,000.

Several research analysts have weighed in on WMGI shares. BidaskClub upgraded shares of Wright Medical Group from a “strong sell” rating to a “sell” rating in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Wright Medical Group in a report on Wednesday, April 10th. Cantor Fitzgerald upped their price objective on shares of Wright Medical Group from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. Credit Suisse Group upped their price objective on shares of Wright Medical Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Finally, Jefferies Financial Group increased their target price on shares of Wright Medical Group to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $34.62.

In related news, CFO Lance A. Berry sold 6,575 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.43, for a total value of $206,652.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin C. Oboyle sold 3,583 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $32.01, for a total transaction of $114,691.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,859 shares of company stock valued at $1,013,605. 4.00% of the stock is currently owned by company insiders.

NASDAQ:WMGI traded up $0.29 on Friday, reaching $29.93. 769,086 shares of the company’s stock were exchanged, compared to its average volume of 1,398,113. The company has a current ratio of 1.29, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. Wright Medical Group NV has a 52 week low of $19.22 and a 52 week high of $32.86.

Wright Medical Group (NASDAQ:WMGI) last issued its earnings results on Tuesday, February 26th. The medical device company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Wright Medical Group had a negative net margin of 20.27% and a positive return on equity of 0.02%. The firm had revenue of $238.15 million during the quarter, compared to analyst estimates of $237.86 million. During the same quarter last year, the business earned $0.10 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Wright Medical Group NV will post 0.21 EPS for the current fiscal year.

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Wright Medical Group Company Profile

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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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