Wright Medical Group (WMGI) Earning Favorable News Coverage, Report Shows
Headlines about Wright Medical Group (NASDAQ:WMGI) have been trending positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Wright Medical Group earned a media sentiment score of 0.39 on Accern’s scale. Accern also gave news articles about the medical device company an impact score of 45.9472804064719 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
A number of brokerages recently commented on WMGI. BidaskClub cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. ValuEngine cut shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Jefferies Group restated a “buy” rating on shares of Wright Medical Group in a research report on Friday, November 3rd. Royal Bank of Canada restated a “buy” rating and issued a $30.00 price objective on shares of Wright Medical Group in a research report on Thursday, November 2nd. Finally, Barclays decreased their price objective on shares of Wright Medical Group from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $32.22.
Wright Medical Group (NASDAQ WMGI) traded up $0.16 during mid-day trading on Wednesday, hitting $22.81. 441,695 shares of the company’s stock were exchanged, compared to its average volume of 1,030,186. Wright Medical Group has a 12-month low of $22.14 and a 12-month high of $31.53. The stock has a market capitalization of $1,170.00, a PE ratio of -4.81 and a beta of 0.60. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.31 and a quick ratio of 0.96.
Wright Medical Group (NASDAQ:WMGI) last released its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). Wright Medical Group had a negative net margin of 38.40% and a negative return on equity of 6.27%. The firm had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $173.50 million. During the same quarter in the previous year, the company earned ($0.19) earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. research analysts expect that Wright Medical Group will post -0.27 EPS for the current fiscal year.
In related news, Director Richard F. Wallman purchased 4,000 shares of Wright Medical Group stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $24.00 per share, for a total transaction of $96,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gregory Morrison sold 92,140 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $23.70, for a total transaction of $2,183,718.00. The disclosure for this sale can be found here. Insiders have sold 92,440 shares of company stock worth $2,191,103 in the last quarter. 3.50% of the stock is owned by corporate insiders.
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.
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