Exactech, Inc. (EXAC) Downgraded to Neutral at Sidoti
Exactech, Inc. (NASDAQ:EXAC) was downgraded by equities researchers at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Monday.
Other analysts also recently issued research reports about the stock. Gabelli reiterated a “buy” rating on shares of Exactech in a report on Monday, July 31st. Robert W. Baird set a $34.00 target price on shares of Exactech and gave the company a “buy” rating in a report on Sunday, October 15th. Finally, BidaskClub upgraded shares of Exactech from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.00.
Exactech (NASDAQ:EXAC) traded up 30.859% on Monday, hitting $41.875. 1,850,392 shares of the stock traded hands. The firm has a market capitalization of $600.82 million, a PE ratio of 805.288 and a beta of 1.01. Exactech has a 52 week low of $22.20 and a 52 week high of $42.55. The stock has a 50 day moving average of $31.87 and a 200 day moving average of $30.09.
Exactech (NASDAQ:EXAC) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The company had revenue of $67.30 million during the quarter, compared to the consensus estimate of $67.75 million. Exactech had a net margin of 0.30% and a return on equity of 7.39%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. Equities research analysts anticipate that Exactech will post $1.29 earnings per share for the current year.
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In related news, Director Fern Watts sold 1,013 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $29.04, for a total transaction of $29,417.52. Following the completion of the sale, the director now owns 4,727 shares in the company, valued at $137,272.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of EXAC. Wells Fargo & Company MN increased its holdings in Exactech by 13.0% during the first quarter. Wells Fargo & Company MN now owns 57,447 shares of the medical equipment provider’s stock worth $1,448,000 after buying an additional 6,590 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Exactech by 7.0% during the first quarter. Bank of New York Mellon Corp now owns 61,951 shares of the medical equipment provider’s stock worth $1,562,000 after buying an additional 4,078 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Exactech by 2,693.8% during the first quarter. JPMorgan Chase & Co. now owns 7,627 shares of the medical equipment provider’s stock worth $192,000 after buying an additional 7,354 shares during the last quarter. American International Group Inc. increased its holdings in Exactech by 7.1% during the first quarter. American International Group Inc. now owns 6,423 shares of the medical equipment provider’s stock worth $162,000 after buying an additional 424 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Exactech by 3.4% during the first quarter. Vanguard Group Inc. now owns 408,659 shares of the medical equipment provider’s stock worth $10,299,000 after buying an additional 13,263 shares during the last quarter. Institutional investors and hedge funds own 64.58% of the company’s stock.
Exactech Company Profile
Exactech, Inc develops, manufactures, markets, distributes and sells orthopedic implant devices, related surgical instrumentation and biologic services to hospitals and physicians. The Company’s segments include knee, hip, biologics and spine, extremity and other products. Its other products segment includes miscellaneous sales categories, such as bone cement, instrument rental fees, shipping charges and other product lines.
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