Wright Medical Group NV (NASDAQ:WMGI) Shares Sold by Tygh Capital Management Inc.

Tygh Capital Management Inc. lowered its holdings in Wright Medical Group NV (NASDAQ:WMGI) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 493,306 shares of the medical device company’s stock after selling 28,109 shares during the quarter. Wright Medical Group comprises approximately 2.5% of Tygh Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Tygh Capital Management Inc. owned about 0.39% of Wright Medical Group worth $14,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chicago Capital LLC lifted its stake in Wright Medical Group by 4.1% during the 2nd quarter. Chicago Capital LLC now owns 839,059 shares of the medical device company’s stock valued at $25,021,000 after acquiring an additional 33,229 shares in the last quarter. Federated Investors Inc. PA lifted its stake in Wright Medical Group by 53.9% during the 1st quarter. Federated Investors Inc. PA now owns 598,174 shares of the medical device company’s stock valued at $18,812,000 after acquiring an additional 209,494 shares in the last quarter. California Public Employees Retirement System lifted its stake in Wright Medical Group by 24.8% during the 1st quarter. California Public Employees Retirement System now owns 170,952 shares of the medical device company’s stock valued at $5,376,000 after acquiring an additional 33,999 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Wright Medical Group by 144.3% during the 1st quarter. OppenheimerFunds Inc. now owns 1,500,702 shares of the medical device company’s stock valued at $47,197,000 after acquiring an additional 886,324 shares in the last quarter. Finally, FIL Ltd lifted its stake in Wright Medical Group by 0.4% during the 1st quarter. FIL Ltd now owns 352,891 shares of the medical device company’s stock valued at $11,098,000 after acquiring an additional 1,399 shares in the last quarter.

WMGI stock traded up $0.42 during mid-day trading on Wednesday, reaching $22.01. 60,921 shares of the company traded hands, compared to its average volume of 2,875,395. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market capitalization of $2.69 billion, a P/E ratio of 236.11, a P/E/G ratio of 8.74 and a beta of 0.69. Wright Medical Group NV has a 52-week low of $20.46 and a 52-week high of $32.86. The company has a fifty day moving average price of $25.87 and a 200-day moving average price of $29.56.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings data on Wednesday, August 7th. The medical device company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Wright Medical Group had a positive return on equity of 1.38% and a negative net margin of 14.65%. The company had revenue of $229.73 million during the quarter, compared to analyst estimates of $233.04 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Wright Medical Group’s revenue was up 11.8% on a year-over-year basis. As a group, analysts forecast that Wright Medical Group NV will post 0.17 EPS for the current year.

In other Wright Medical Group news, EVP Kevin D. Cordell sold 2,685 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.47, for a total value of $81,811.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick Fisher sold 1,656 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.78, for a total value of $50,971.68. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 94,654 shares of company stock valued at $2,021,859 and sold 13,810 shares valued at $389,539. 3.80% of the stock is owned by corporate insiders.

Several equities analysts have weighed in on WMGI shares. ValuEngine cut Wright Medical Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Credit Suisse Group dropped their price objective on Wright Medical Group from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. BidaskClub upgraded Wright Medical Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price (down from $38.00) on shares of Wright Medical Group in a research note on Tuesday, July 23rd. Finally, Oppenheimer lowered their target price on Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.77.

About Wright Medical Group

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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