Gabelli Weighs in on Exactech, Inc.’s FY2019 Earnings (NASDAQ:EXAC)

Exactech, Inc. (NASDAQ:EXAC) – Equities research analysts at Gabelli dropped their FY2019 earnings per share estimates for shares of Exactech in a research note issued on Monday. Gabelli analyst J. Tsai now anticipates that the medical equipment provider will earn $1.55 per share for the year, down from their previous forecast of $1.60. Gabelli currently has a “Buy” rating on the stock. Gabelli also issued estimates for Exactech’s FY2020 earnings at $1.70 EPS and FY2021 earnings at $1.85 EPS.

Several other equities analysts also recently commented on EXAC. Zacks Investment Research downgraded Exactech from a “hold” rating to a “sell” rating in a research report on Monday, April 10th. TheStreet upgraded Exactech from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. Finally, BidaskClub downgraded Exactech from a “hold” rating to a “sell” rating in a research report on Monday.

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Exactech (EXAC) traded down 2.57% during trading on Tuesday, hitting $28.40. The stock had a trading volume of 59,389 shares. Exactech has a 52 week low of $22.20 and a 52 week high of $31.90. The company has a 50-day moving average of $30.20 and a 200 day moving average of $27.89. The company has a market cap of $406.72 million, a price-to-earnings ratio of 546.15 and a beta of 1.03.

Exactech (NASDAQ:EXAC) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.33 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.33. The firm had revenue of $67.30 million during the quarter, compared to analyst estimates of $67.75 million. Exactech had a return on equity of 7.45% and a net margin of 0.30%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share.

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Exactech by 0.4% in the first quarter. Wellington Management Group LLP now owns 1,351,868 shares of the medical equipment provider’s stock valued at $34,067,000 after buying an additional 5,394 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Exactech by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 780,446 shares of the medical equipment provider’s stock valued at $19,668,000 after buying an additional 28,696 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Exactech by 3.4% in the first quarter. Vanguard Group Inc. now owns 408,659 shares of the medical equipment provider’s stock valued at $10,299,000 after buying an additional 13,263 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Exactech by 21.1% in the first quarter. Royce & Associates LP now owns 290,889 shares of the medical equipment provider’s stock valued at $7,330,000 after buying an additional 50,761 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. boosted its stake in shares of Exactech by 42.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 274,062 shares of the medical equipment provider’s stock valued at $8,167,000 after buying an additional 81,291 shares during the last quarter. 64.38% of the stock is owned by institutional investors.

In other news, CFO Joel C. Phillips sold 7,610 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was 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 of the company’s stock, valued at $3,068,143.97. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William B. Locander sold 988 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $30.34, for a total value of $29,975.92. Following the completion of 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. 28.30% of the stock is currently owned by company insiders.

About Exactech

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.

Earnings History and Estimates for Exactech (NASDAQ:EXAC)

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