Spark Investment Management LLC Holds Position in Exactech, Inc. (EXAC)
Spark Investment Management LLC maintained its stake in Exactech, Inc. (NASDAQ:EXAC) during the second quarter, Holdings Channel reports. The firm owned 71,500 shares of the medical equipment provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Exactech were worth $2,130,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. acquired a new stake in Exactech during the first quarter worth approximately $129,000. Bank of Montreal Can acquired a new stake in Exactech during the second quarter worth approximately $134,000. American International Group Inc. increased its stake in Exactech by 7.1% in 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. JPMorgan Chase & Co. increased its stake in Exactech by 2,693.8% in 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. Finally, Janney Montgomery Scott LLC acquired a new stake in Exactech during the second quarter worth approximately $233,000. Institutional investors and hedge funds own 64.68% of the company’s stock.
Shares of Exactech, Inc. (EXAC) opened at 28.30 on Monday. The company has a 50 day moving average of $30.11 and a 200-day moving average of $27.89. Exactech, Inc. has a 12-month low of $22.20 and a 12-month high of $31.90. The company has a market capitalization of $405.28 million, a P/E ratio of 544.23 and a beta of 1.02.
Exactech (NASDAQ:EXAC) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Exactech had a net margin of 0.30% and a return on equity of 7.45%. The business had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $67.75 million. During the same period last year, the business earned $0.31 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts anticipate that Exactech, Inc. will post $1.29 EPS for the current fiscal year.
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EXAC has been the topic of a number of research reports. TheStreet upgraded shares of Exactech from a “c+” rating to a “b” rating in a report on Tuesday, April 25th. Gabelli reiterated a “buy” rating on shares of Exactech in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Exactech from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Finally, BidaskClub downgraded shares of Exactech from a “hold” rating to a “sell” rating in a report on Monday, July 31st.
In other Exactech news, CFO Joel C. Phillips sold 7,610 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $30.71, for a total transaction of $233,703.10. Following the completion of the sale, the chief financial officer now owns 99,907 shares of the company’s stock, valued at approximately $3,068,143.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William B. Locander sold 988 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $30.34, for a total value of $29,975.92. Following the sale, the director now directly owns 8,555 shares of the company’s stock, valued at approximately $259,558.70. The disclosure for this sale can be found here. Company insiders own 28.30% of the company’s stock.
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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