Wright Medical Group Inc. (NASDAQ:WMGI) is scheduled to issue its Q316 quarterly earnings data on Wednesday, November 2nd. Analysts expect the company to announce earnings of ($0.20) per share and revenue of $157.64 million for the quarter.
Shares of Wright Medical Group Inc. (NASDAQ:WMGI) traded down 2.01% on Monday, reaching $21.99. The company had a trading volume of 1,127,813 shares. The company has a 50 day moving average price of $23.73 and a 200 day moving average price of $21.29. The stock’s market capitalization is $2.26 billion. Wright Medical Group Inc. has a 52-week low of $15.02 and a 52-week high of $25.50.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Needham & Company LLC reiterated a “buy” rating and set a $24.00 price objective on shares of Wright Medical Group in a research report on Monday, July 11th. Leerink Swann reiterated an “outperform” rating and set a $27.00 price objective (up previously from $25.00) on shares of Wright Medical Group in a research report on Wednesday, August 3rd. Piper Jaffray Cos. raised shares of Wright Medical Group from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research note on Wednesday, July 13th. Finally, Barclays PLC reissued an “overweight” rating and set a $33.00 target price on shares of Wright Medical Group in a research note on Wednesday, September 28th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $25.64.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Wright Medical Group by 75.5% in the second quarter. Dimensional Fund Advisors LP now owns 456,310 shares of the medical device company’s stock valued at $7,923,000 after buying an additional 196,372 shares during the last quarter. Principal Financial Group Inc. raised its stake in Wright Medical Group by 56.9% in the second quarter. Principal Financial Group Inc. now owns 19,284 shares of the medical device company’s stock valued at $335,000 after buying an additional 6,994 shares during the last quarter. BlackRock Advisors LLC raised its stake in Wright Medical Group by 14.1% in the second quarter. BlackRock Advisors LLC now owns 46,923 shares of the medical device company’s stock valued at $815,000 after buying an additional 5,787 shares during the last quarter. BlackRock Investment Management LLC raised its stake in Wright Medical Group by 31.2% in the second quarter. BlackRock Investment Management LLC now owns 424,207 shares of the medical device company’s stock valued at $7,368,000 after buying an additional 100,911 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Wright Medical Group by 341.7% in the second quarter. BlackRock Inc. now owns 26,729 shares of the medical device company’s stock valued at $464,000 after buying an additional 20,677 shares during the last quarter.
About Wright Medical Group
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.