Jacob Gottlieb’s Visium Asset Management Picks Up Its Wright Medical Group Passive Stake

Wright Medical Group Inc (NASDAQ:WMGI)‘s stake in Jacob Gottlieb‘s Visium Asset Management’s equity portfolio has been slightly increased, as a new filing with the SEC showed. Visium reported holding some 2.43 million shares of the company, versus some 2.15 million shares disclosed in the latest 13F. Following the increase, Visium holds 4.8% of the company’s outstanding stock.

The stock of Wright Medical Group Inc (NASDAQ:WMGI), which is an orthopaedic medical device company, edged up around 2.25% since the beginning of the year. For the second quarter of 2014, the company reported a 19% increase on the year in net sales, which grew to $72.4 million. In addition the company has extended its net loss to $1.13 per share, from $0.37 in the same period of last year. Wright Medical Group Inc (NASDAQ:WMGI) has also reiterated its guidance for net sales expecting them to be in the range between $308 and $312 million, which will be an increase between 27% and 29% on the year. Earnings per share forecasts stands at a loss between $1.28 and $1.38 per share.

Aside from Visium, several other hedge funds among those that we track hold long stakes in Wright Medical Group Inc (NASDAQ:WMGI). The larget stake is held by Healthcor Management LP, led by Arthur B. Cohen and Joseph Healey, which last disclosed ownership of 3.15 million shares, as of the end of June, up by 2% on the quarter. Noah Levy and Eugene Dozortsev‘s Newtyn Management owns 2.7 million shares as of the end of the second quarter, raising the stake by 4% between April and June.

Disclosure: none