Wright Medical Group N.V. (NASDAQ:WMGI)’s share price was up 6.2% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $29.27 and last traded at $27.64, with a volume of 3,459,801 shares. The stock had previously closed at $26.02.

The medical device company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $179.69 million for the quarter, compared to analyst estimates of $178.17 million. Wright Medical Group N.V. had a negative return on equity of 6.08% and a negative net margin of 36.04%. Wright Medical Group N.V.’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS.

Several equities research analysts have recently weighed in on WMGI shares. BMO Capital Markets 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, May 4th. Jefferies Group LLC reissued a “buy” rating on shares of Wright Medical Group N.V. in a research report on Monday, April 24th. 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. ValuEngine raised Wright Medical Group N.V. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Wright Medical Group N.V. in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $31.67.

In related news, VP Julie Andrews sold 1,480 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $27.11, for a total transaction of $40,122.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jennifer S. Walker sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $28.00, for a total value of $560,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 40,655 shares of company stock worth $1,116,708 in the last 90 days. 9.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WMGI. First Mercantile Trust Co. increased its position 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 buying an additional 780 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Wright Medical Group N.V. during the second quarter worth about $148,000. US Bancorp DE increased its position 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 buying an additional 1,644 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Wright Medical Group N.V. during the first quarter worth about $207,000. Finally, Prudential Financial Inc. purchased a new position in Wright Medical Group N.V. during the first quarter worth about $219,000.

The stock’s market cap is $2.85 billion. The stock has a 50-day moving average price of $27.03 and a 200-day moving average price of $27.85.

TRADEMARK VIOLATION NOTICE: This article was posted by Daily Political and is the property of of Daily Political. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/05/wright-medical-group-n-v-nasdaqwmgi-trading-up-6-2-after-strong-earnings.html.

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.

Receive News & Ratings for Wright Medical Group N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wright Medical Group N.V. and related companies with MarketBeat.com's FREE daily email newsletter.