Wright Medical Group, Inc. (NASDAQ:WMGI) – Stock analysts at Piper Jaffray lowered their Q1 2019 earnings per share estimates for shares of Wright Medical Group in a research note issued to investors on Wednesday, May 9th. Piper Jaffray analyst M. O’brien now forecasts that the medical device company will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.01. Piper Jaffray also issued estimates for Wright Medical Group’s Q2 2019 earnings at $0.01 EPS, Q3 2019 earnings at $0.01 EPS, Q4 2019 earnings at $0.04 EPS, FY2019 earnings at $0.05 EPS and FY2020 earnings at $0.43 EPS.
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Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, May 9th. The medical device company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.06. The firm had revenue of $198.54 million during the quarter, compared to analyst estimates of $193.69 million. Wright Medical Group had a negative return on equity of 2.57% and a negative net margin of 22.11%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) earnings per share.
A number of other brokerages have also weighed in on WMGI. BMO Capital Markets cut their price objective on Wright Medical Group from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. BidaskClub downgraded shares of Wright Medical Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. 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. ValuEngine raised shares of Wright Medical Group from a “strong sell” rating to a “sell” rating in a report on Friday. Finally, Barclays reaffirmed an “overweight” rating and issued a $25.00 price target (down previously from $27.00) on shares of Wright Medical Group in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.38.
Shares of Wright Medical Group stock opened at $23.81 on Friday. The stock has a market cap of $2.22 billion, a PE ratio of -108.23 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 1.42. Wright Medical Group has a twelve month low of $19.01 and a twelve month high of $29.89.
Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in shares of Wright Medical Group in the 1st quarter valued at about $270,000. Landscape Capital Management L.L.C. bought a new stake in Wright Medical Group in the fourth quarter worth about $376,000. Invictus RG bought a new stake in Wright Medical Group in the fourth quarter worth about $411,000. Public Employees Retirement Association of Colorado bought a new stake in Wright Medical Group in the fourth quarter worth about $441,000. Finally, Iguana Healthcare Management LLC bought a new stake in Wright Medical Group in the fourth quarter worth about $444,000.
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.