Wright Medical Group N.V. (WMGI) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in Wright Medical Group N.V. (NASDAQ:WMGI) by 15.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,424 shares of the medical device company’s stock after purchasing an additional 1,636 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wright Medical Group N.V. were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WMGI. Parametric Portfolio Associates LLC lifted its stake in shares of Wright Medical Group N.V. by 6.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 43,362 shares of the medical device company’s stock valued at $1,349,000 after purchasing an additional 2,626 shares during the period. Prudential Financial Inc. purchased a new position in shares of Wright Medical Group N.V. in the 1st quarter valued at approximately $219,000. Alliancebernstein L.P. lifted its stake in shares of Wright Medical Group N.V. by 4.5% in the 1st quarter. Alliancebernstein L.P. now owns 148,651 shares of the medical device company’s stock valued at $4,626,000 after purchasing an additional 6,400 shares during the period. Teachers Advisors LLC lifted its stake in shares of Wright Medical Group N.V. by 0.8% in the 1st quarter. Teachers Advisors LLC now owns 650,077 shares of the medical device company’s stock valued at $20,230,000 after purchasing an additional 5,101 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Wright Medical Group N.V. by 4.1% in the 1st quarter. Legal & General Group Plc now owns 36,155 shares of the medical device company’s stock valued at $1,125,000 after purchasing an additional 1,424 shares during the period.

Wright Medical Group N.V. (NASDAQ WMGI) opened at 26.47 on Friday. Wright Medical Group N.V. has a 52 week low of $20.50 and a 52 week high of $31.53. The firm’s 50-day moving average price is $26.97 and its 200-day moving average price is $27.77. The stock’s market cap is $2.76 billion.

Wright Medical Group N.V. (NASDAQ:WMGI) last posted its earnings results on Wednesday, August 2nd. The medical device company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $179.69 million during the quarter, compared to analyst estimates of $178.17 million. Wright Medical Group N.V. had a negative return on equity of 6.22% and a negative net margin of 36.04%. Wright Medical Group N.V.’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Equities analysts predict that Wright Medical Group N.V. will post ($0.29) earnings per share for the current fiscal year.

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A number of research analysts have recently commented on the company. Jefferies Group LLC restated a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group N.V. in a research note on Thursday, October 12th. Robert W. Baird restated a “buy” rating and issued a $33.00 target price on shares of Wright Medical Group N.V. in a research note on Friday, October 6th. Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of Wright Medical Group N.V. in a research note on Tuesday, October 3rd. Needham & Company LLC restated a “hold” rating on shares of Wright Medical Group N.V. in a research note on Friday, September 1st. Finally, BidaskClub upgraded Wright Medical Group N.V. from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $32.20.

Wright Medical Group N.V. Profile

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.

Institutional Ownership by Quarter for Wright Medical Group N.V. (NASDAQ:WMGI)

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