Wright Medical Group Inc (WMGI) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $-0.38 earnings per share for the quarter, missing the analyst consensus estimate by $-0.14. Analysts had a consensus of $-0.24. The company posted revenue of $181.02 million in the period, compared to analysts expectations of $171.07 million. The company’s revenue was up 132.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.51 EPS.
Many Wall Street Analysts have commented on Wright Medical Group Inc. Shares were Reiterated by RBC Capital Mkts on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 22 from a previous price target of $29 .Needham Upgraded Wright Medical Group Inc on Feb 22, 2016 to ” Buy”, Price Target of the shares are set at $22.
Wright Medical Group Inc opened for trading at $18.91 and hit $19.42 on the upside on Monday, eventually ending the session at $19.38, with a gain of 3.19% or 0.6 points. The heightened volatility saw the trading volume jump to 8,60,795 shares. Company has a market cap of $1,990 M.
In a different news, on Mar 8, 2016, David H Mowry (Executive VP and COO) sold 13,500 shares at $17.34 per share price. According to the SEC, on Nov 25, 2015, Elizabeth H Weatherman (director) sold 4,500,000 shares at $20.82 per share price. On Nov 25, 2015, Sean Carney (director) sold 4,500,000 shares at $20.82 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company’s business includes products that are used in foot and ankle repair upper extremity products and biologics products which are used to replace damaged or diseased bone to stimulate bone growth and to provide other biological solutions for surgeons and patients. The Company’s products include extremity hardware foot and ankle hardware upper extremity hardware and biologics.