Exactech (EXAC) Hits New 52-Week High at $50.80

Shares of Exactech, Inc. (NASDAQ:EXAC) reached a new 52-week high on Monday . The stock traded as high as $50.80 and last traded at $42.35, with a volume of 226300 shares changing hands. The stock had previously closed at $41.95.

Several analysts have weighed in on EXAC shares. BidaskClub raised Exactech from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Robert W. Baird set a $34.00 price target on Exactech and gave the company a “buy” rating in a report on Sunday, October 15th. Sidoti cut Exactech from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Gabelli cut Exactech from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Zacks Investment Research cut Exactech from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.00.

The firm has a market capitalization of $608.41, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 3.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 4.08.

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

A number of institutional investors have recently made changes to their positions in EXAC. Gamco Investors INC. ET AL purchased a new position in Exactech in the 2nd quarter worth approximately $18,463,000. Northpointe Capital LLC purchased a new position in Exactech in the 3rd quarter worth approximately $5,102,000. FMR LLC increased its stake in Exactech by 51.6% in the 2nd quarter. FMR LLC now owns 251,876 shares of the medical equipment provider’s stock worth $7,506,000 after purchasing an additional 85,709 shares during the period. Russell Investments Group Ltd. increased its stake in Exactech by 167.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 125,965 shares of the medical equipment provider’s stock worth $4,150,000 after purchasing an additional 78,847 shares during the period. Finally, Algert Global LLC purchased a new position in Exactech in the 2nd quarter worth approximately $1,454,000. 66.44% of the stock is currently 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.

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