Glenmede Trust Co. NA increased its stake in shares of Wright Medical Group NV (NASDAQ:WMGI) by 43.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,236,856 shares of the medical device company’s stock after purchasing an additional 377,003 shares during the quarter. Glenmede Trust Co. NA owned 1.16% of Wright Medical Group worth $32,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Wright Medical Group during the 2nd quarter worth $297,000. Point72 Asset Management L.P. purchased a new stake in shares of Wright Medical Group during the 2nd quarter worth $77,033,000. Voya Investment Management LLC lifted its stake in shares of Wright Medical Group by 2,709.2% during the 2nd quarter. Voya Investment Management LLC now owns 1,303,936 shares of the medical device company’s stock worth $33,850,000 after purchasing an additional 1,257,519 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Wright Medical Group by 2.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 663,031 shares of the medical device company’s stock worth $17,212,000 after purchasing an additional 17,367 shares during the last quarter. Finally, United Services Automobile Association lifted its stake in shares of Wright Medical Group by 286.9% during the 2nd quarter. United Services Automobile Association now owns 68,029 shares of the medical device company’s stock worth $546,000 after purchasing an additional 50,448 shares during the last quarter.

A number of brokerages recently weighed in on WMGI. BMO Capital Markets upgraded Wright Medical Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $31.00 in a research note on Wednesday, August 29th. Cantor Fitzgerald upped their target price on Wright Medical Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Piper Jaffray Companies upped their target price on Wright Medical Group to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Oppenheimer set a $28.00 target price on Wright Medical Group and gave the company a “hold” rating in a research report on Thursday, August 9th. Finally, Jefferies Financial Group upped their target price on Wright Medical Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Wright Medical Group presently has an average rating of “Buy” and a consensus target price of $31.08.

Shares of WMGI stock traded up $0.07 during mid-day trading on Friday, reaching $26.82. The stock had a trading volume of 1,374,467 shares, compared to its average volume of 1,217,076. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.06. The firm has a market capitalization of $3.10 billion, a PE ratio of -121.89 and a beta of 1.12. Wright Medical Group NV has a 1-year low of $19.01 and a 1-year high of $29.50.

Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings data on Wednesday, August 8th. The medical device company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $205.40 million for the quarter, compared to analyst estimates of $197.20 million. Wright Medical Group had a negative return on equity of 1.94% and a negative net margin of 24.74%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. Sell-side analysts forecast that Wright Medical Group NV will post -0.15 earnings per share for the current year.

In related news, CFO Lance A. Berry sold 1,182 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $27.19, for a total transaction of $32,138.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jennifer S. Walker sold 11,466 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $28.60, for a total value of $327,927.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,405 shares of company stock worth $407,783. 4.00% of the stock is owned by corporate insiders.

About Wright Medical Group

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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