Lombard Odier Asset Management USA Corp purchased a new position in shares of Wright Medical Group NV (NASDAQ:WMGI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 65,000 shares of the medical device company’s stock, valued at approximately $2,044,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in shares of Wright Medical Group during the 4th quarter worth about $30,000. FTB Advisors Inc. boosted its stake in shares of Wright Medical Group by 94.9% during the 4th quarter. FTB Advisors Inc. now owns 1,604 shares of the medical device company’s stock worth $43,000 after purchasing an additional 781 shares during the period. Quadrant Capital Group LLC purchased a new position in shares of Wright Medical Group during the 1st quarter worth about $55,000. Lindbrook Capital LLC purchased a new position in shares of Wright Medical Group during the 4th quarter worth about $84,000. Finally, Exane Derivatives boosted its stake in shares of Wright Medical Group by 78.6% during the 1st quarter. Exane Derivatives now owns 2,777 shares of the medical device company’s stock worth $87,000 after purchasing an additional 1,222 shares during the period.
In other news, insider Patrick Fisher sold 1,656 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $30.78, for a total value of $50,971.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew C. Morton sold 2,173 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $32.50, for a total transaction of $70,622.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,626 shares of company stock valued at $389,339. Company insiders own 3.80% of the company’s stock.
Wright Medical Group stock opened at $31.28 on Monday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 782.00, a P/E/G ratio of 9.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.70. Wright Medical Group NV has a 1 year low of $24.10 and a 1 year high of $32.86.
Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $230.13 million during the quarter, compared to analysts’ expectations of $226.10 million. Wright Medical Group had a negative net margin of 20.81% and a positive return on equity of 0.84%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) EPS. As a group, research analysts expect that Wright Medical Group NV will post 0.23 earnings per share for the current fiscal year.
A number of research firms recently commented on WMGI. BidaskClub cut shares of Wright Medical Group from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Oppenheimer set a $34.00 price objective on shares of Wright Medical Group and gave the company a “hold” rating in a research report on Wednesday, May 8th. Credit Suisse Group boosted their price objective on shares of Wright Medical Group from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective (up from $35.00) on shares of Wright Medical Group in a research report on Wednesday, February 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Wright Medical Group to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.92.
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Wright Medical Group 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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