Swiss National Bank Purchases 5,900 Shares of Wright Medical Group NV (NASDAQ:WMGI)

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Swiss National Bank boosted its position in shares of Wright Medical Group NV (NASDAQ:WMGI) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,494 shares of the medical device company’s stock after purchasing an additional 5,900 shares during the period. Swiss National Bank owned about 0.18% of Wright Medical Group worth $6,635,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC acquired a new position in shares of Wright Medical Group during the 1st quarter worth about $55,000. FNY Investment Advisers LLC acquired a new stake in Wright Medical Group during the second quarter worth approximately $56,000. Cullen Frost Bankers Inc. acquired a new stake in Wright Medical Group during the first quarter worth approximately $94,000. Sigma Planning Corp acquired a new stake in Wright Medical Group during the first quarter worth approximately $298,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Wright Medical Group during the second quarter worth approximately $301,000.

In other Wright Medical Group news, SVP Julie D. Dewey sold 4,665 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.35, for a total value of $141,582.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin D. Cordell sold 2,685 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.47, for a total transaction of $81,811.95. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 94,654 shares of company stock worth $2,021,859 and sold 13,810 shares worth $389,539. Company insiders own 3.80% of the company’s stock.

Shares of NASDAQ:WMGI opened at $21.84 on Wednesday. The company’s 50 day simple moving average is $25.19 and its 200 day simple moving average is $29.29. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 242.67, a price-to-earnings-growth ratio of 8.85 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. Wright Medical Group NV has a 1 year low of $20.46 and a 1 year high of $32.86.

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

Several brokerages have recently commented on WMGI. Royal Bank of Canada cut shares of Wright Medical Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $34.00 to $24.00 in a report on Thursday, August 8th. Credit Suisse Group lowered their target price on shares of Wright Medical Group from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. BidaskClub raised shares of Wright Medical Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. ValuEngine cut shares of Wright Medical Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price (down from $38.00) on shares of Wright Medical Group in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $30.50.

Wright Medical Group Company 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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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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