Janus Henderson Group PLC trimmed its holdings in shares of Wright Medical Group NV (NASDAQ:WMGI) by 12.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,163,694 shares of the medical device company’s stock after selling 440,986 shares during the quarter. Janus Henderson Group PLC owned 2.51% of Wright Medical Group worth $99,498,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of WMGI. Toth Financial Advisory Corp boosted its holdings in Wright Medical Group by 3.0% during the 1st quarter. Toth Financial Advisory Corp now owns 20,600 shares of the medical device company’s stock valued at $648,000 after acquiring an additional 600 shares during the period. Vanguard Group Inc. boosted its stake in shares of Wright Medical Group by 25.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,553,595 shares of the medical device company’s stock valued at $317,015,000 after buying an additional 2,370,590 shares during the period. Rhumbline Advisers boosted its stake in shares of Wright Medical Group by 51.5% in the 4th quarter. Rhumbline Advisers now owns 161,775 shares of the medical device company’s stock valued at $4,404,000 after buying an additional 54,964 shares during the period. 361 Capital LLC purchased a new position in shares of Wright Medical Group in the 4th quarter valued at about $2,385,000. Finally, Bellevue Group AG boosted its stake in shares of Wright Medical Group by 8.9% in the 4th quarter. Bellevue Group AG now owns 678,114 shares of the medical device company’s stock valued at $18,458,000 after buying an additional 55,422 shares during the period.
Shares of NASDAQ WMGI traded down $0.36 during midday trading on Wednesday, hitting $30.48. 1,252,800 shares of the company’s stock were exchanged, compared to its average volume of 1,379,781. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.70 and a current ratio of 0.91. Wright Medical Group NV has a twelve month low of $24.00 and a twelve month high of $32.86. The firm has a market capitalization of $3.91 billion, a PE ratio of 775.00, a price-to-earnings-growth ratio of 9.62 and a beta of 0.97.
Wright Medical Group (NASDAQ:WMGI) last issued its earnings results on Tuesday, May 7th. The medical device company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $230.13 million for the quarter, compared to analyst estimates of $226.10 million. Wright Medical Group had a positive return on equity of 0.84% and a negative net margin of 20.81%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. On average, sell-side analysts forecast that Wright Medical Group NV will post 0.22 earnings per share for the current fiscal year.
In other news, SVP Andrew C. Morton sold 2,173 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $32.50, for a total value of $70,622.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Lance A. Berry sold 6,575 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $31.43, for a total value of $206,652.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,449 shares of company stock worth $969,536. 3.80% of the stock is currently owned by corporate insiders.
Several brokerages have recently issued reports on WMGI. BidaskClub cut Wright Medical Group from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Oppenheimer set a $34.00 price objective on Wright Medical Group and gave the company a “hold” rating in a research note on Wednesday, May 8th. Credit Suisse Group lifted their price objective on Wright Medical Group from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective (up previously from $35.00) on shares of Wright Medical Group in a research note on Wednesday, February 27th. Finally, Jefferies Financial Group lifted their price objective on Wright Medical Group to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Wright Medical Group currently has an average rating of “Buy” and a consensus target price of $34.92.
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Wright Medical Group Profile
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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