We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wright Medical Group (WMGI) Q3 Earnings In Line, Sales Miss
Read MoreHide Full Article
Wright Medical Group N.V. reported adjusted loss of 16 cents per share in the third quarter of 2017, in line with the Zacks Consensus Estimate. Also, the figure was narrower by 3 cents on a year-over-year basis.
Net sales in the third quarter totaled $171 million, which missed the Zacks Consensus Estimate of $174 million.
Quarter in Detail
Wright Medical reports revenues under the Total Extremities & Biologics segment.
Consolidated sales at the segment in the United States increased 7.5% from the year-ago quarter to almost $126.9 million. Internationally, sales in the extremities and biologics business were up 11.1% year over year to $43.6 million.
Becton, Dickinson and Company Price, Consensus and EPS Surprise
Total Extremities & Biologics includes four sub-segments — Lower Extremities, Upper Extremities, Biologics and Sports Med & Other.
Lower Extremities: Sales at the segment declined 0.6% on a year-over-year basis to $65.4 million in the quarter. The U.S. lower extremities business sales fell 0.3% in the third quarter. Internationally, lower extremities sales declined 1.7% on a year-over-year basis.
Upper Extremities: Sales at the segment increased 19.6% on a year-over-year basis to $76 million in the quarter under review. The U.S. upper extremities business grew 18.6% on a year-over-year basis. Also, Upper extremities sales increased 22.3% on a year-over-year basis, internationally.
Biologics: Sales at the segment rose 3.7% on a year-over-year basis to $23.8 million in the quarter. The U.S. biologics business grew 2.2% to $18.6 million in the quarter. Sales at the segment grew 9.6% internationally on a year-over-year basis.
Sports Med & Other: Sales at the segment rose 5.6% to $5.3 million from the year-ago quarter. The U.S. sports med & other segment sales declined 0.3% and increased 9.5% internationally in the third quarter.
Guidance
Wright Medical expects net sales for full-year 2017 in the band of $740 million to $745 million. This includes negative impact from foreign currency exchange of approximately 1%. The company forecasts full-year 2017 adjusted EBITDA from continuing operations in the range of $84 million to $88 million.
Our Take
Wright Medical is striving toward product innovation through research and development. The company recently launched INVISION Total Ankle Revision System. This is the first system developed for total ankle revision arthroplasty. Per management, PERFORM Reversed launch will boost revenues after the company delivers additional instrument sets to the U.S. market. However, decrease in Lower extremities and Upper extremities sales, internationally, is a matter of concern.
Zacks Rank & Key Picks
Wright Medical currently carries a Zacks Rank #3 (Hold).
PetMed reported earnings per share of 43 cents for the second quarter of fiscal 2018, up 79.2% from the year-ago quarter’s 24 cents. Also, gross margin expanded 548 basis points year over year to 35.2% in the reported quarter.
Luminex reported adjusted earnings per share of 19 cents in the third quarter of 2017, up 216.7% year over year. The company’s revenues in the quarter increased almost 4.1% year over year to $74.1 million.
Intuitive Surgical posted adjusted earnings of $2.77 per share in the third quarter of 2017, up 34.5% on a year-over-year basis. Also, revenues increased 18% year over year to $806.1 million.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Image: Bigstock
Wright Medical Group (WMGI) Q3 Earnings In Line, Sales Miss
Wright Medical Group N.V. reported adjusted loss of 16 cents per share in the third quarter of 2017, in line with the Zacks Consensus Estimate. Also, the figure was narrower by 3 cents on a year-over-year basis.
Net sales in the third quarter totaled $171 million, which missed the Zacks Consensus Estimate of $174 million.
Quarter in Detail
Wright Medical reports revenues under the Total Extremities & Biologics segment.
Consolidated sales at the segment in the United States increased 7.5% from the year-ago quarter to almost $126.9 million. Internationally, sales in the extremities and biologics business were up 11.1% year over year to $43.6 million.
Becton, Dickinson and Company Price, Consensus and EPS Surprise
Becton, Dickinson and Company Price, Consensus and EPS Surprise | Becton, Dickinson and Company Quote
Total Extremities & Biologics includes four sub-segments — Lower Extremities, Upper Extremities, Biologics and Sports Med & Other.
Lower Extremities: Sales at the segment declined 0.6% on a year-over-year basis to $65.4 million in the quarter. The U.S. lower extremities business sales fell 0.3% in the third quarter. Internationally, lower extremities sales declined 1.7% on a year-over-year basis.
Upper Extremities: Sales at the segment increased 19.6% on a year-over-year basis to $76 million in the quarter under review. The U.S. upper extremities business grew 18.6% on a year-over-year basis. Also, Upper extremities sales increased 22.3% on a year-over-year basis, internationally.
Biologics: Sales at the segment rose 3.7% on a year-over-year basis to $23.8 million in the quarter. The U.S. biologics business grew 2.2% to $18.6 million in the quarter. Sales at the segment grew 9.6% internationally on a year-over-year basis.
Sports Med & Other: Sales at the segment rose 5.6% to $5.3 million from the year-ago quarter. The U.S. sports med & other segment sales declined 0.3% and increased 9.5% internationally in the third quarter.
Guidance
Wright Medical expects net sales for full-year 2017 in the band of $740 million to $745 million. This includes negative impact from foreign currency exchange of approximately 1%. The company forecasts full-year 2017 adjusted EBITDA from continuing operations in the range of $84 million to $88 million.
Our Take
Wright Medical is striving toward product innovation through research and development. The company recently launched INVISION Total Ankle Revision System. This is the first system developed for total ankle revision arthroplasty. Per management, PERFORM Reversed launch will boost revenues after the company delivers additional instrument sets to the U.S. market. However, decrease in Lower extremities and Upper extremities sales, internationally, is a matter of concern.
Zacks Rank & Key Picks
Wright Medical currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical sector are PetMed Express, Inc. (PETS - Free Report) , Luminex Corporation and Intuitive Surgical, Inc. (ISRG - Free Report) . Notably, PetMed and Luminex sport a Zacks Rank #1 (Strong Buy), while Intuitive Surgical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PetMed reported earnings per share of 43 cents for the second quarter of fiscal 2018, up 79.2% from the year-ago quarter’s 24 cents. Also, gross margin expanded 548 basis points year over year to 35.2% in the reported quarter.
Luminex reported adjusted earnings per share of 19 cents in the third quarter of 2017, up 216.7% year over year. The company’s revenues in the quarter increased almost 4.1% year over year to $74.1 million.
Intuitive Surgical posted adjusted earnings of $2.77 per share in the third quarter of 2017, up 34.5% on a year-over-year basis. Also, revenues increased 18% year over year to $806.1 million.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>