Wright Medical Group NV (NASDAQ:WMGI) was the target of unusually large options trading on Tuesday. Traders bought 3,180 call options on the company. This represents an increase of 360% compared to the typical volume of 691 call options.
A number of research firms have recently weighed in on WMGI. BidaskClub raised Wright Medical Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Wright Medical Group in a report on Wednesday, July 29th. TheStreet raised Wright Medical Group from a “d+” rating to a “c-” rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus cut Wright Medical Group from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Wednesday, August 26th. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.63.
Wright Medical Group stock opened at $30.53 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.54 and a current ratio of 0.82. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -28.80, a price-to-earnings-growth ratio of 6.59 and a beta of 0.61. Wright Medical Group has a 1 year low of $19.04 and a 1 year high of $30.66. The firm’s 50 day moving average price is $30.21 and its two-hundred day moving average price is $29.46.
Wright Medical Group (NASDAQ:WMGI) last posted its quarterly earnings results on Wednesday, July 29th. The medical device company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.36). Wright Medical Group had a negative return on equity of 3.86% and a negative net margin of 16.59%. The business had revenue of $129.00 million during the quarter. As a group, equities analysts predict that Wright Medical Group will post 0.42 EPS for the current fiscal year.
In other Wright Medical Group news, insider Tim Lanier sold 951 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $30.12, for a total value of $28,644.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James Lightman sold 1,526 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $30.16, for a total transaction of $46,024.16. The disclosure for this sale can be found here. Insiders sold 15,216 shares of company stock valued at $453,090 over the last quarter. Insiders own 3.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of WMGI. Advisor Group Holdings Inc. acquired a new position in Wright Medical Group during the 1st quarter worth $33,000. Captrust Financial Advisors increased its holdings in shares of Wright Medical Group by 104.3% during the 2nd quarter. Captrust Financial Advisors now owns 5,468 shares of the medical device company’s stock worth $163,000 after purchasing an additional 2,792 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Wright Medical Group by 124.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,436 shares of the medical device company’s stock worth $221,000 after purchasing an additional 4,127 shares during the period. Jane Street Group LLC bought a new position in shares of Wright Medical Group during the 2nd quarter worth about $289,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Wright Medical Group by 41.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 11,000 shares of the medical device company’s stock worth $317,000 after purchasing an additional 3,200 shares during the period.
About Wright Medical Group
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. 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.
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