Jefferies Financial Group Weighs in on Wright Medical Group NV’s Q1 2019 Earnings (WMGI)

Wright Medical Group NV (NASDAQ:WMGI) – Research analysts at Jefferies Financial Group issued their Q1 2019 earnings per share (EPS) estimates for shares of Wright Medical Group in a note issued to investors on Wednesday, November 7th. Jefferies Financial Group analyst R. Denhoy expects that the medical device company will earn $0.05 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a $35.00 price target on the stock. Jefferies Financial Group also issued estimates for Wright Medical Group’s Q2 2019 earnings at $0.07 EPS, Q3 2019 earnings at $0.05 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.31 EPS and FY2021 earnings at $0.80 EPS.

WMGI has been the topic of several other reports. Robert W. Baird increased their price target on shares of Wright Medical Group from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Needham & Company LLC increased their price target on shares of Wright Medical Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, October 25th. Piper Jaffray Companies increased their price target on shares of Wright Medical Group to $35.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets raised Wright Medical Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $31.00 in a report on Wednesday, August 29th. Finally, BidaskClub raised Wright Medical Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Wright Medical Group currently has a consensus rating of “Buy” and an average target price of $32.75.

Shares of Wright Medical Group stock opened at $30.19 on Friday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -137.23 and a beta of 1.06. Wright Medical Group has a 52 week low of $19.01 and a 52 week high of $30.75. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.06.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, November 7th. The medical device company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. The company had revenue of $194.11 million for the quarter, compared to analyst estimates of $186.09 million. Wright Medical Group had a negative net margin of 24.74% and a negative return on equity of 1.94%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) earnings per share.

In other news, insider Peter Cooke sold 20,662 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $29.28, for a total value of $604,983.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lance A. Berry sold 1,182 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $27.19, for a total value of $32,138.58. The disclosure for this sale can be found here. Insiders sold 36,979 shares of company stock valued at $1,060,083 over the last three months. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of WMGI. Point72 Asset Management L.P. acquired a new stake in shares of Wright Medical Group during the second quarter worth $77,033,000. FMR LLC lifted its holdings in shares of Wright Medical Group by 17.9% during the third quarter. FMR LLC now owns 18,741,152 shares of the medical device company’s stock worth $543,869,000 after purchasing an additional 2,845,681 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Wright Medical Group by 2,709.2% during the second quarter. Voya Investment Management LLC now owns 1,303,936 shares of the medical device company’s stock worth $33,850,000 after purchasing an additional 1,257,519 shares during the period. Nomura Holdings Inc. lifted its holdings in shares of Wright Medical Group by 184.6% during the second quarter. Nomura Holdings Inc. now owns 1,010,663 shares of the medical device company’s stock worth $26,237,000 after purchasing an additional 655,514 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Wright Medical Group by 22.7% during the third quarter. Janus Henderson Group PLC now owns 3,305,277 shares of the medical device company’s stock worth $95,919,000 after purchasing an additional 612,326 shares during the period.

About Wright Medical Group

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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Earnings History and Estimates for Wright Medical Group (NASDAQ:WMGI)

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