106,436 Shares in Wright Medical Group, Inc. (WMGI) Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP purchased a new stake in shares of Wright Medical Group, Inc. (NASDAQ:WMGI) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 106,436 shares of the medical device company’s stock, valued at approximately $2,112,000. Engineers Gate Manager LP owned 0.10% of Wright Medical Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Wright Medical Group by 6.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 529,001 shares of the medical device company’s stock valued at $10,496,000 after buying an additional 30,869 shares during the period. Swiss National Bank increased its stake in shares of Wright Medical Group by 3.8% in the 1st quarter. Swiss National Bank now owns 173,394 shares of the medical device company’s stock worth $3,440,000 after purchasing an additional 6,300 shares in the last quarter. Endurant Capital Management LP increased its stake in shares of Wright Medical Group by 670.7% in the 4th quarter. Endurant Capital Management LP now owns 305,200 shares of the medical device company’s stock worth $6,775,000 after purchasing an additional 265,600 shares in the last quarter. Iguana Healthcare Management LLC purchased a new stake in shares of Wright Medical Group in the 4th quarter worth $444,000. Finally, Palo Alto Investors LLC increased its stake in shares of Wright Medical Group by 2.2% in the 4th quarter. Palo Alto Investors LLC now owns 2,736,293 shares of the medical device company’s stock worth $60,746,000 after purchasing an additional 59,900 shares in the last quarter.

Shares of WMGI stock opened at $24.38 on Friday. Wright Medical Group, Inc. has a 52-week low of $23.76 and a 52-week high of $23.96. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -110.82 and a beta of 0.67.



Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, May 9th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.06. Wright Medical Group had a negative return on equity of 2.58% and a negative net margin of 22.11%. The business had revenue of $198.54 million during the quarter, compared to analyst estimates of $193.69 million. During the same quarter in the prior year, the business posted ($0.09) EPS. Wright Medical Group’s revenue for the quarter was up 12.0% compared to the same quarter last year. analysts expect that Wright Medical Group, Inc. will post -0.16 EPS for the current year.

Several research firms have recently commented on WMGI. Barclays restated an “overweight” rating and issued a $25.00 price objective (down from $27.00) on shares of Wright Medical Group in a research note on Wednesday, February 28th. BidaskClub upgraded Wright Medical Group from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine lowered Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Oppenheimer set a $25.00 price objective on Wright Medical Group and gave the stock a “hold” rating in a research note on Thursday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $29.38.

Wright Medical Group Company 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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