Exactech Inc. (EXAC) Reaches New 52-Week High at $27.51
Exactech Inc. (NASDAQ:EXAC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.51 and last traded at $27.40, with a volume of 13,429 shares. The stock had previously closed at $27.12.
EXAC has been the topic of several analyst reports. Robert W. Baird raised shares of Exactech from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $26.00 in a research note on Wednesday, April 13th. Zacks Investment Research downgraded shares of Exactech from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.25.
The firm has a 50 day moving average of $25.65 and a 200-day moving average of $21.35. The company has a market capitalization of $384.96 million and a P/E ratio of 25.76.
Exactech (NASDAQ:EXAC) last posted its earnings results on Tuesday, April 26th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. During the same period in the prior year, the firm earned $0.29 earnings per share. The business earned $65.30 million during the quarter, compared to the consensus estimate of $63.63 million. The business’s revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Exactech Inc. will post $1.17 earnings per share for the current fiscal year.
In other Exactech news, VP Betty A. Petty sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $22.65, for a total value of $407,700.00. Following the completion of the sale, the vice president now directly owns 70,400 shares of the company’s stock, valued at $1,594,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joel C. Phillips sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $26.75, for a total transaction of $80,250.00. Following the completion of the sale, the chief financial officer now directly owns 101,632 shares of the company’s stock, valued at $2,718,656. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of EXAC. Dimensional Fund Advisors LP increased its stake in Exactech by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 557,024 shares of the company’s stock valued at $10,110,000 after buying an additional 34,863 shares in the last quarter. Morgan Stanley increased its stake in Exactech by 6.3% in the fourth quarter. Morgan Stanley now owns 67,495 shares of the company’s stock valued at $1,225,000 after buying an additional 3,982 shares in the last quarter. Gabelli Funds LLC increased its stake in Exactech by 2.8% in the fourth quarter. Gabelli Funds LLC now owns 296,024 shares of the company’s stock valued at $5,373,000 after buying an additional 8,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Exactech by 1.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 649,279 shares of the company’s stock valued at $11,784,000 after buying an additional 9,800 shares in the last quarter.
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 implants, hip implants, biologics and spine, extremity implants and other products. Its other products segment includes surgical instruments, bone cement and other implant product lines.
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