Analysts predict that Wright Medical Group, Inc. (NASDAQ:WMGI) will post earnings per share of ($0.06) for the current quarter, according to Zacks Investment Research. Sixteen analysts have provided estimates for Wright Medical Group’s earnings. The highest EPS estimate is $0.05 and the lowest is ($0.10). Wright Medical Group posted earnings per share of ($0.09) during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The company is scheduled to report its next earnings results after the market closes on Wednesday, May 9th.
According to Zacks, analysts expect that Wright Medical Group will report full year earnings of ($0.18) per share for the current year, with EPS estimates ranging from ($0.28) to ($0.05). For the next fiscal year, analysts forecast that the company will report earnings of $0.16 per share, with EPS estimates ranging from ($0.17) to $0.39. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that follow Wright Medical Group.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Tuesday, February 27th. The medical device company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The business had revenue of $217.60 million for the quarter, compared to analyst estimates of $215.69 million. Wright Medical Group had a negative net margin of 27.19% and a negative return on equity of 3.78%.
Several research analysts recently commented on the stock. BidaskClub lowered shares of Wright Medical Group from a “sell” rating to a “strong sell” rating in a report on Friday, April 13th. ValuEngine lowered shares of Wright Medical Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 11th. BMO Capital Markets cut their price target on shares of Wright Medical Group from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Oppenheimer set a $25.00 price target on shares of Wright Medical Group and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Cantor Fitzgerald set a $30.00 price target on shares of Wright Medical Group and gave the company a “buy” rating in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.38.
A number of large investors have recently modified their holdings of WMGI. Legal & General Group Plc grew its position in Wright Medical Group by 20.1% in the third quarter. Legal & General Group Plc now owns 44,134 shares of the medical device company’s stock valued at $1,141,000 after acquiring an additional 7,382 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Wright Medical Group by 7.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 474,145 shares of the medical device company’s stock valued at $12,267,000 after acquiring an additional 31,013 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Wright Medical Group in the third quarter valued at approximately $643,000. California Public Employees Retirement System grew its position in Wright Medical Group by 8.1% in the third quarter. California Public Employees Retirement System now owns 203,317 shares of the medical device company’s stock valued at $5,260,000 after acquiring an additional 15,177 shares in the last quarter. Finally, Factory Mutual Insurance Co. grew its position in Wright Medical Group by 55.8% in the fourth quarter. Factory Mutual Insurance Co. now owns 374,700 shares of the medical device company’s stock valued at $8,318,000 after acquiring an additional 134,200 shares in the last quarter.
Shares of WMGI stock opened at $20.26 on Wednesday. The stock has a market cap of $2,181.67, a PE ratio of -92.09 and a beta of 0.66. Wright Medical Group has a 1-year low of $19.04 and a 1-year high of $30.91. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.96 and a current ratio of 1.37.
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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