Wright Medical Group N.V. (NASDAQ:WMGI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also commented on WMGI. Oppenheimer Holdings, Inc. set a $30.00 price objective on Wright Medical Group N.V. and gave the company a “hold” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Wright Medical Group N.V. in a report on Thursday, May 4th. Cantor Fitzgerald started coverage on Wright Medical Group N.V. in a report on Thursday, June 29th. They set an “overweight” rating and a $33.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating and set a $34.00 price objective on shares of Wright Medical Group N.V. in a report on Thursday, May 4th. Finally, Jefferies Group LLC increased their price objective on Wright Medical Group N.V. from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Wright Medical Group N.V. currently has an average rating of “Hold” and a consensus price target of $31.67.

Wright Medical Group N.V. (NASDAQ:WMGI) opened at 27.45 on Friday. The stock’s market cap is $2.87 billion. Wright Medical Group N.V. has a 12-month low of $20.50 and a 12-month high of $31.53. The firm has a 50-day moving average price of $27.03 and a 200-day moving average price of $27.85.

Wright Medical Group N.V. (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, August 2nd. The medical device company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The business 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%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) EPS. Analysts forecast that Wright Medical Group N.V. will post ($0.29) EPS for the current fiscal year.

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In other Wright Medical Group N.V. 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 value of $40,122.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jennifer S. Walker sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were 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 sold a total of 40,655 shares of company stock worth $1,116,708 in the last ninety days. Insiders own 3.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Mcrae Capital Management Inc. increased its stake in shares of Wright Medical Group N.V. by 2.7% in the first quarter. Mcrae Capital Management Inc. now owns 9,457 shares of the medical device company’s stock worth $294,000 after buying an additional 250 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Wright Medical Group N.V. by 6.8% in the second quarter. Teacher Retirement System of Texas now owns 7,884 shares of the medical device company’s stock worth $217,000 after buying an additional 502 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Wright Medical Group N.V. by 1.7% in the second quarter. Legal & General Group Plc now owns 36,752 shares of the medical device company’s stock worth $1,009,000 after buying an additional 597 shares in the last quarter. First Mercantile Trust Co. increased its stake in shares of 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. Finally, Commerce Bank increased its stake in shares of Wright Medical Group N.V. by 7.4% in the first quarter. Commerce Bank now owns 18,837 shares of the medical device company’s stock worth $586,000 after buying an additional 1,300 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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