Exactech (EXAC) Cut to Hold at ValuEngine

Exactech (NASDAQ:EXAC) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

Other equities research analysts have also issued reports about the stock. Sidoti lowered shares of Exactech from a “buy” rating to a “neutral” rating in a research report on Monday, October 23rd. BidaskClub raised shares of Exactech from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Robert W. Baird lowered shares of Exactech from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Monday, October 23rd. Zacks Investment Research lowered shares of Exactech from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Finally, Gabelli lowered shares of Exactech from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.00.

Shares of Exactech (NASDAQ:EXAC) traded up $0.40 during trading on Friday, reaching $42.35. 226,388 shares of the company’s stock traded hands, compared to its average volume of 168,879. Exactech has a twelve month low of $23.30 and a twelve month high of $43.01. The company has a market capitalization of $608.40, a price-to-earnings ratio of 35.00, a PEG ratio of 3.63 and a beta of 1.03. The company has a current ratio of 4.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Exactech (NASDAQ:EXAC) last announced its earnings results on Monday, October 30th. The medical equipment provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Exactech had a net margin of 0.18% and a return on equity of 7.22%. The company had revenue of $61.40 million for the quarter, compared to the consensus estimate of $61.78 million. analysts anticipate that Exactech will post 1.29 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in EXAC. Bank of Montreal Can purchased a new position in Exactech in the second quarter valued at about $134,000. Russell Investments Group Ltd. increased its position in Exactech by 13.2% during the second quarter. Russell Investments Group Ltd. now owns 47,118 shares of the medical equipment provider’s stock worth $1,405,000 after buying an additional 5,485 shares in the last quarter. OxFORD Asset Management LLP increased its position in Exactech by 17.8% during the second quarter. OxFORD Asset Management LLP now owns 59,972 shares of the medical equipment provider’s stock worth $1,787,000 after buying an additional 9,082 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Exactech by 11.1% during the second quarter. TIAA CREF Investment Management LLC now owns 34,438 shares of the medical equipment provider’s stock worth $1,026,000 after buying an additional 3,444 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Exactech during the second quarter worth $359,000. 66.75% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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