Kevin D. Cordell Sells 1,263 Shares of Wright Medical Group NV (NASDAQ:WMGI) Stock

Wright Medical Group NV (NASDAQ:WMGI) EVP Kevin D. Cordell sold 1,263 shares of Wright Medical Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $21.21, for a total value of $26,788.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kevin D. Cordell also recently made the following trade(s):

  • On Monday, June 3rd, Kevin D. Cordell sold 2,685 shares of Wright Medical Group stock. The stock was sold at an average price of $30.47, for a total value of $81,811.95.

Wright Medical Group stock traded down $0.04 during trading on Tuesday, reaching $21.59. 1,038,507 shares of the company were exchanged, compared to its average volume of 1,641,292. Wright Medical Group NV has a 52-week low of $20.46 and a 52-week high of $32.86. The company has a market capitalization of $2.69 billion, a P/E ratio of 236.11, a PEG ratio of 8.74 and a beta of 0.69. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $26.03 and its two-hundred day simple moving average is $29.60.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Wednesday, August 7th. The medical device company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Wright Medical Group had a positive return on equity of 1.38% and a negative net margin of 14.65%. The firm had revenue of $229.73 million for the quarter, compared to the consensus estimate of $233.04 million. During the same quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Wright Medical Group NV will post 0.17 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in WMGI. Vanguard Group Inc. raised its position in Wright Medical Group by 0.7% in the second quarter. Vanguard Group Inc. now owns 11,390,529 shares of the medical device company’s stock valued at $339,666,000 after purchasing an additional 81,975 shares during the period. BlackRock Inc. raised its position in Wright Medical Group by 4.8% in the second quarter. BlackRock Inc. now owns 11,000,118 shares of the medical device company’s stock valued at $328,024,000 after purchasing an additional 501,510 shares during the period. Fisher Asset Management LLC raised its position in Wright Medical Group by 2.4% in the second quarter. Fisher Asset Management LLC now owns 2,889,564 shares of the medical device company’s stock valued at $86,167,000 after purchasing an additional 67,590 shares during the period. Redmile Group LLC raised its position in Wright Medical Group by 13.3% in the first quarter. Redmile Group LLC now owns 2,874,100 shares of the medical device company’s stock valued at $90,390,000 after purchasing an additional 336,800 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in Wright Medical Group in the second quarter valued at $58,939,000.

A number of analysts have recently issued reports on the company. ValuEngine lowered Wright Medical Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Oppenheimer lowered their price target on Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target (down from $38.00) on shares of Wright Medical Group in a research note on Tuesday, July 23rd. Wells Fargo & Co lowered Wright Medical Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $28.00 to $23.00 in a research note on Monday, August 12th. Finally, Piper Jaffray Companies set a $27.00 price target on Wright Medical Group and gave the stock a “buy” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $30.77.

About Wright Medical Group

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. 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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