Wright Medical Group Inc (WMGI) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $-0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $-0.23. The company posted revenue of $170.70 million in the period, compared to analysts expectations of $172.29 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.71 EPS.
Many Wall Street Analysts have commented on Wright Medical Group Inc. Wright Medical Group Inc was Upgraded by JP Morgan to ” Overweight” on Jul 13, 2016. Wright Medical Group Inc was Upgraded by Piper Jaffray to ” Overweight” on Jul 13, 2016. Wright Medical Group Inc was Initiated by Guggenheim to “Buy” on Jun 9, 2016.
Wright Medical Group Inc opened for trading at $21.83 and hit $22.11 on the upside on Friday, eventually ending the session at $21.93, with a gain of 0.83% or 0.18 points. The heightened volatility saw the trading volume jump to 12,39,744 shares. Company has a market cap of $2,253 M.
In a different news, on Jun 3, 2016, Jennifer S. Walker (SVP, Process Improvement) sold 1,167 shares at $19.34 per share price. According to the SEC, on Jun 3, 2016, Terry Rich (President, Upper Extremities) sold 2,237 shares at $19.35 per share price. On Jun 3, 2016, Julie D Tracy (SVP & Chief Communic. Officer) sold 3,277 shares at $19.38 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.