Fisher Asset Management LLC trimmed its holdings in Wright Medical Group Inc (NASDAQ:WMGI) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,843,217 shares of the medical device company’s stock after selling 47,572 shares during the period. Fisher Asset Management LLC’s holdings in Wright Medical Group were worth $63,119,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new position in Wright Medical Group in the 3rd quarter worth approximately $511,000. American International Group Inc. lifted its stake in Wright Medical Group by 8.1% in the 3rd quarter. American International Group Inc. now owns 70,114 shares of the medical device company’s stock worth $1,814,000 after purchasing an additional 5,242 shares in the last quarter. Capital Research Global Investors lifted its stake in Wright Medical Group by 60.9% in the 2nd quarter. Capital Research Global Investors now owns 2,775,000 shares of the medical device company’s stock worth $76,285,000 after purchasing an additional 1,050,000 shares in the last quarter. Elk Creek Partners LLC lifted its stake in Wright Medical Group by 12.4% in the 3rd quarter. Elk Creek Partners LLC now owns 1,021,475 shares of the medical device company’s stock worth $26,426,000 after purchasing an additional 113,043 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Wright Medical Group by 3.4% in the 2nd quarter. Northern Trust Corp now owns 1,865,977 shares of the medical device company’s stock worth $51,296,000 after purchasing an additional 60,840 shares in the last quarter.
In related news, Director Richard F. Wallman bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average price of $24.00 per share, for a total transaction of $96,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gregory Morrison sold 92,140 shares of Wright Medical Group stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $23.70, for a total transaction of $2,183,718.00. The disclosure for this sale can be found here. Insiders have sold a total of 92,440 shares of company stock valued at $2,190,875 in the last 90 days. Insiders own 9.30% of the company’s stock.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The business had revenue of $170.50 million during the quarter, compared to the consensus estimate of $173.50 million. Wright Medical Group had a negative net margin of 38.40% and a negative return on equity of 6.27%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) EPS. research analysts forecast that Wright Medical Group Inc will post -0.27 earnings per share for the current fiscal year.
WMGI has been the topic of a number of research reports. Robert W. Baird reissued a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group in a research note on Friday, October 6th. Jefferies Group reissued a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group in a research note on Thursday, October 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Wright Medical Group in a research note on Friday, January 5th. TheStreet downgraded shares of Wright Medical Group from a “c-” rating to a “d+” rating in a report on Wednesday, December 27th. Finally, BMO Capital Markets cut their price target on shares of Wright Medical Group from $34.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $31.89.
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Wright Medical Group Profile
Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.
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