Wright Medical Group N.V. (NASDAQ:WMGI) Price Target Cut to $30.00 by Analysts at Barclays PLC

Wright Medical Group N.V. (NASDAQ:WMGI) had its target price decreased by Barclays PLC from $33.00 to $30.00 in a research report issued on Thursday, November 2nd. The brokerage presently has an “overweight” rating on the medical device company’s stock. Barclays PLC’s price objective suggests a potential upside of 26.69% from the company’s previous close.

Several other research analysts also recently commented on the stock. BMO Capital Markets decreased their price target on shares of Wright Medical Group N.V. from $34.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Needham & Company LLC reissued a “hold” rating on shares of Wright Medical Group N.V. in a research note on Thursday, November 2nd. Jefferies Group LLC restated a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group N.V. in a report on Thursday, October 12th. Robert W. Baird restated a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group N.V. in a report on Friday, October 6th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of Wright Medical Group N.V. in a report on Tuesday, October 3rd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.22.

Wright Medical Group N.V. (NASDAQ WMGI) opened at $23.68 on Thursday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.31. Wright Medical Group N.V. has a 1 year low of $22.14 and a 1 year high of $31.53.

Wright Medical Group N.V. (NASDAQ:WMGI) last released its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The company had revenue of $170.50 million during the quarter, compared to analyst estimates of $173.50 million. Wright Medical Group N.V. had a negative net margin of 38.40% and a negative return on equity of 6.27%. Wright Medical Group N.V.’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned ($0.19) earnings per share. equities research analysts forecast that Wright Medical Group N.V. will post -0.28 EPS for the current fiscal year.

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In other news, SVP Gregory Morrison sold 92,140 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $23.70, for a total transaction of $2,183,718.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman acquired 4,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were purchased at an average cost of $24.00 per share, for a total transaction of $96,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 92,340 shares of company stock valued at $2,189,064. 3.50% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Wright Medical Group N.V. by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the medical device company’s stock worth $104,000 after purchasing an additional 396 shares during the period. First Mercantile Trust Co. increased its stake in Wright Medical Group N.V. by 21.7% in the second quarter. First Mercantile Trust Co. now owns 4,380 shares of the medical device company’s stock worth $120,000 after purchasing an additional 780 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in Wright Medical Group N.V. in the second quarter worth $148,000. US Bancorp DE increased its stake in Wright Medical Group N.V. by 41.3% in the second 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 during the period. Finally, Prudential Financial Inc. purchased a new stake in Wright Medical Group N.V. in the first quarter worth $219,000.

About Wright Medical Group N.V.

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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