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Q1 2019 EPS Estimates for Wright Medical Group, Inc. Decreased by Piper Jaffray (WMGI)

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.

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