Wright Medical Group N.V. (WMGI) Stock Faces Higher Risks Forward After Forming Bearish Multiple Bottom

June 18, 2018 - By Louis Casey

Wright Medical Group N.V. (NASDAQ:WMGI) Logo

The stock of Wright Medical Group N.V. (WMGI) shows a multiple bottoms pattern with $24.27 target or 6.00 % below today’s $25.82 share price. The 8 months chart pattern indicates high risk for the $2.74 billion company. It was reported on Jun, 18 by Finviz.com. If the $24.27 price target is reached, the company will be worth $164.16 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 1.07% or $0.28 during the last trading session, reaching $25.82. About 811,523 shares traded. Wright Medical Group N.V. (NASDAQ:WMGI) has declined 9.52% since June 18, 2017 and is downtrending. It has underperformed by 22.09% the S&P500.

Analysts await Wright Medical Group N.V. (NASDAQ:WMGI) to report earnings on August, 1. They expect $-0.07 EPS, 0.00 % or $0.00 from last year’s $-0.07 per share. After $-0.01 actual EPS reported by Wright Medical Group N.V. for the previous quarter, Wall Street now forecasts 600.00 % negative EPS growth.

Wright Medical Group N.V. (NASDAQ:WMGI) Ratings Coverage

Among 7 analysts covering Wright Medical Group (NASDAQ:WMGI), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Wright Medical Group has $32.0 highest and $25 lowest target. $27.33’s average target is 5.85% above currents $25.82 stock price. Wright Medical Group had 15 analyst reports since January 2, 2018 according to SRatingsIntel. The rating was maintained by Cantor Fitzgerald with “Buy” on Monday, January 22. On Monday, January 8 the stock rating was maintained by Cantor Fitzgerald with “Buy”. The firm has “Overweight” rating by Barclays Capital given on Wednesday, February 28. On Monday, February 12 the stock rating was maintained by Cantor Fitzgerald with “Buy”. The stock has “Outperform” rating by BMO Capital Markets on Wednesday, February 28. The firm has “Buy” rating by Cantor Fitzgerald given on Monday, April 30. The rating was maintained by Cantor Fitzgerald with “Buy” on Monday, June 11. The firm earned “Buy” rating on Wednesday, February 28 by Robert W. Baird. The stock of Wright Medical Group N.V. (NASDAQ:WMGI) earned “Buy” rating by RBC Capital Markets on Wednesday, January 17. Guggenheim upgraded the stock to “Buy” rating in Wednesday, June 13 report.

More notable recent Wright Medical Group N.V. (NASDAQ:WMGI) news were published by: Nasdaq.com which released: “Wright Medical Group NV Announces FDA Premarket Approval for AUGMENT® Injectable Bone Graft” on June 13, 2018, also Nasdaq.com with their article: “Report: Exploring Fundamental Drivers Behind Syros Pharmaceuticals, J & J Snack Foods, Wright Medical Group NV …” published on May 21, 2018, Investingnews.com published: “Wright Medical Announces FDA Premarket Approval for AUGMENT Injectable Bone Graft” on June 13, 2018. More interesting news about Wright Medical Group N.V. (NASDAQ:WMGI) were released by: Seekingalpha.com and their article: “FDA OKs Wright Medical’s Augment bone graft” published on June 13, 2018 as well as Streetinsider.com‘s news article titled: “Wright Medical Group (WMGI) Reports FDA Premarket Approval for AUGMENT Injectable Bone Graft” with publication date: June 13, 2018.

Wright Medical Group N.V., a medical device company, designs, makes, markets, and sells extremities and biologics products.in the United States, Europe, the Middle East, Africa, and internationally. The company has market cap of $2.74 billion. The firm 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. It currently has negative earnings. It also provides sports medicines and other products to mechanically repair tissue-to-tissue or tissue-to-bone injuries.

Wright Medical Group N.V. (NASDAQ:WMGI) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter: