Exactech, Inc. (EXAC) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Exactech, Inc. (NASDAQ:EXAC) from a hold rating to a sell rating in a research report report published on Monday, July 31st.

Other equities analysts have also issued research reports about the company. TheStreet raised Exactech from a c+ rating to a b rating in a research note on Tuesday, April 25th. Zacks Investment Research raised Exactech from a sell rating to a hold rating in a research note on Tuesday, April 25th.

Exactech (EXAC) traded up 1.53% on Monday, hitting $29.95. 30,587 shares of the company’s stock traded hands. Exactech has a 12 month low of $22.20 and a 12 month high of $31.90. The stock has a market cap of $429.72 million, a P/E ratio of 575.96 and a beta of 1.02. The stock has a 50 day moving average price of $29.41 and a 200-day moving average price of $28.11.

Exactech (NASDAQ:EXAC) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.33 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.33. The firm had revenue of $67.30 million for the quarter, compared to analyst estimates of $67.75 million. Exactech had a return on equity of 7.39% and a net margin of 0.30%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Equities analysts predict that Exactech will post $1.29 earnings per share for the current fiscal year.

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In related news, Director Fern Watts sold 1,013 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $29.04, for a total value of $29,417.52. Following the sale, the director now owns 4,727 shares in the company, valued at approximately $137,272.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Joel C. Phillips sold 7,610 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $30.71, for a total value of $233,703.10. Following the completion of the sale, the chief financial officer now owns 99,907 shares in the company, valued at approximately $3,068,143.97. The disclosure for this sale can be found here. Insiders sold 10,358 shares of company stock worth $314,311 in the last 90 days. Company insiders own 28.30% of the company’s stock.

A number of large investors have recently modified their holdings of EXAC. Salem Investment Counselors Inc. bought a new stake in shares of Exactech during the first quarter valued at $129,000. Bank of Montreal Can acquired a new position in Exactech during the second quarter valued at about $134,000. American International Group Inc. boosted its position 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 valued at $162,000 after buying an additional 424 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 valued at $192,000 after buying an additional 7,354 shares in the last quarter. Finally, Hancock Holding Co. acquired a new position in Exactech during the second quarter valued at about $212,000. Institutional investors own 64.05% 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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