Wright Medical Group NV (NASDAQ:WMGI) Expected to Post Quarterly Sales of $225.89 Million

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Wall Street analysts expect Wright Medical Group NV (NASDAQ:WMGI) to report $225.89 million in sales for the current fiscal quarter, according to Zacks. Sixteen analysts have issued estimates for Wright Medical Group’s earnings. The lowest sales estimate is $222.90 million and the highest is $227.70 million. Wright Medical Group reported sales of $194.11 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.4%. The firm is expected to issue its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Wright Medical Group will report full year sales of $945.16 million for the current year, with estimates ranging from $926.50 million to $966.93 million. For the next financial year, analysts anticipate that the company will report sales of $1.07 billion, with estimates ranging from $1.06 billion to $1.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Wright Medical Group.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, August 7th. The medical device company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $229.73 million during the quarter, compared to analysts’ expectations of $233.04 million. Wright Medical Group had a negative net margin of 14.65% and a positive return on equity of 1.37%. Wright Medical Group’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) earnings per share.

A number of equities research analysts have issued reports on WMGI shares. BidaskClub raised Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets decreased their target price on Wright Medical Group from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Credit Suisse Group decreased their target price on Wright Medical Group from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Bank of America downgraded Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Friday. Finally, Oppenheimer decreased their target price on Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.08.

Shares of NASDAQ WMGI traded down $0.42 during mid-day trading on Monday, reaching $21.58. 5,079,892 shares of the company’s stock were exchanged, compared to its average volume of 1,505,127. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 311.78, a price-to-earnings-growth ratio of 8.72 and a beta of 0.69. 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 has a 52-week low of $20.82 and a 52-week high of $32.86. The stock’s 50-day moving average is $27.72.

In other Wright Medical Group news, SVP Julie D. Dewey sold 4,665 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.35, for a total value of $141,582.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew C. Morton sold 2,173 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $32.50, for a total value of $70,622.50. The disclosure for this sale can be found here. Insiders sold 12,626 shares of company stock valued at $389,339 over the last three months. 3.80% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Wright Medical Group by 2.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,424 shares of the medical device company’s stock worth $548,000 after buying an additional 483 shares during the period. Toth Financial Advisory Corp raised its stake in shares of Wright Medical Group by 3.0% during the 1st quarter. Toth Financial Advisory Corp now owns 20,600 shares of the medical device company’s stock worth $648,000 after buying an additional 600 shares during the period. Strs Ohio raised its stake in shares of Wright Medical Group by 5.4% during the 1st quarter. Strs Ohio now owns 15,700 shares of the medical device company’s stock worth $493,000 after buying an additional 800 shares during the period. Rhumbline Advisers raised its stake in shares of Wright Medical Group by 0.5% during the 1st quarter. Rhumbline Advisers now owns 162,620 shares of the medical device company’s stock worth $5,114,000 after buying an additional 845 shares during the period. Finally, Exane Derivatives raised 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 buying an additional 1,222 shares during the period.

About Wright Medical Group

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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