Wright Medical Group NV (WMGI) Stake Increased by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC grew its holdings in shares of Wright Medical Group NV (NASDAQ:WMGI) by 64.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,000 shares of the medical device company’s stock after acquiring an additional 55,100 shares during the period. Sivik Global Healthcare LLC owned about 0.11% of Wright Medical Group worth $4,063,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Wright Medical Group by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 92,781 shares of the medical device company’s stock worth $1,841,000 after purchasing an additional 6,084 shares in the last quarter. Amalgamated Bank lifted its holdings in Wright Medical Group by 14.9% in the 2nd quarter. Amalgamated Bank now owns 16,232 shares of the medical device company’s stock worth $421,000 after purchasing an additional 2,102 shares in the last quarter. Hartford Investment Management Co. purchased a new position in Wright Medical Group in the 2nd quarter worth approximately $280,000. Aperio Group LLC purchased a new position in Wright Medical Group in the 2nd quarter worth approximately $364,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Wright Medical Group in the 2nd quarter worth approximately $362,000.

A number of research analysts recently commented on WMGI shares. Wells Fargo & Co boosted their price target on Wright Medical Group from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th. Piper Jaffray Companies upped their price objective on Wright Medical Group to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 8th. BidaskClub raised Wright Medical Group from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Oppenheimer set a $30.00 price objective on Wright Medical Group and gave the stock a “hold” rating in a report on Thursday, November 8th. Finally, Needham & Company LLC upped their price objective on Wright Medical Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, October 25th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Wright Medical Group currently has an average rating of “Buy” and an average target price of $32.75.

Shares of NASDAQ WMGI traded up $0.51 during trading hours on Monday, hitting $29.15. 107,305 shares of the company traded hands, compared to its average volume of 1,576,061. The company has a market cap of $3.58 billion, a P/E ratio of -132.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.24. Wright Medical Group NV has a 12 month low of $19.01 and a 12 month high of $30.75.

Wright Medical Group (NASDAQ:WMGI) last released its earnings results on Wednesday, November 7th. The medical device company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. The firm had revenue of $194.11 million for the quarter, compared to the consensus estimate of $186.09 million. Wright Medical Group had a negative return on equity of 0.60% and a negative net margin of 13.07%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. As a group, equities analysts predict that Wright Medical Group NV will post -0.07 EPS for the current year.

In other news, Director Kevin C. Oboyle sold 17,277 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $30.11, for a total transaction of $520,210.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Peter Cooke sold 13,478 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $28.03, for a total value of $377,788.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,466 shares of company stock worth $1,962,392. Corporate insiders own 4.00% of the company’s stock.

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Wright Medical Group Profile

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. 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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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