BMO Capital Markets Cuts Wright Medical Group N.V. (NASDAQ:WMGI) Price Target to $31.00

Wright Medical Group N.V. (NASDAQ:WMGI) had its price objective cut by BMO Capital Markets from $34.00 to $31.00 in a research report report published on Thursday, November 2nd. They currently have an outperform rating on the medical device company’s stock.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC reissued a hold rating on shares of Wright Medical Group N.V. in a research report on Friday, September 1st. BidaskClub raised shares of Wright Medical Group N.V. from a sell rating to a hold rating in a research report on Friday, August 11th. Piper Jaffray Companies reissued a buy rating and set a $34.00 target price on shares of Wright Medical Group N.V. in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a buy rating and set a $33.00 target price on shares of Wright Medical Group N.V. in a research report on Friday, August 4th. Finally, Robert W. Baird reissued a buy rating and set a $33.00 target price on shares of Wright Medical Group N.V. in a research report on Friday, October 6th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $32.22.

Wright Medical Group N.V. (NASDAQ WMGI) traded down $0.35 during mid-day trading on Thursday, reaching $24.00. 728,258 shares of the company traded hands, compared to its average volume of 1,035,689. Wright Medical Group N.V. has a 1-year low of $22.14 and a 1-year high of $31.53. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52.

Wright Medical Group N.V. (NASDAQ:WMGI) last posted its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). Wright Medical Group N.V. had a negative net margin of 38.40% and a negative return on equity of 6.27%. The firm had revenue of $170.50 million during the quarter, compared to the consensus estimate of $173.50 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. equities analysts anticipate that Wright Medical Group N.V. will post -0.27 earnings per share for the current fiscal year.

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In other Wright Medical Group N.V. news, Director Richard F. Wallman purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average cost of $24.00 per share, for a total transaction of $96,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Gregory Morrison sold 92,140 shares of the company’s 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. Over the last quarter, insiders sold 92,440 shares of company stock worth $2,191,500. Corporate insiders own 3.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Wright Medical Group N.V. by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock valued at $104,000 after buying an additional 396 shares in the last quarter. First Mercantile Trust Co. lifted its stake in shares of Wright Medical Group N.V. by 21.7% during the 2nd quarter. First Mercantile Trust Co. now owns 4,380 shares of the medical device company’s stock valued at $120,000 after buying an additional 780 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Wright Medical Group N.V. during the 2nd quarter valued at approximately $148,000. US Bancorp DE lifted its stake in Wright Medical Group N.V. by 41.3% in the 2nd quarter. US Bancorp DE now owns 5,624 shares of the medical device company’s stock worth $155,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Wright Medical Group N.V. by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock worth $211,000 after purchasing an additional 640 shares in the last quarter.

Wright Medical Group N.V. Company 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.

Analyst Recommendations for Wright Medical Group N.V. (NASDAQ:WMGI)

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