Exactech, Inc. (NASDAQ:EXAC) Position Reduced by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in Exactech, Inc. (NASDAQ:EXAC) by 65.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,056 shares of the medical equipment provider’s stock after selling 43,920 shares during the period. Alliancebernstein L.P. owned 0.16% of Exactech worth $581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXAC. Kirr Marbach & Co. LLC IN boosted its stake in shares of Exactech by 1.2% in the first quarter. Kirr Marbach & Co. LLC IN now owns 10,760 shares of the medical equipment provider’s stock worth $271,000 after buying an additional 125 shares during the last quarter. American International Group Inc. raised its stake in shares of 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 during the period. Bank of New York Mellon Corp raised its stake in shares of Exactech by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 61,951 shares of the medical equipment provider’s stock valued at $1,562,000 after buying an additional 4,078 shares during the period. Wells Fargo & Company MN raised its stake in shares of Exactech by 13.0% in the first quarter. Wells Fargo & Company MN now owns 57,447 shares of the medical equipment provider’s stock valued at $1,448,000 after buying an additional 6,590 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Exactech by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 105,700 shares of the medical equipment provider’s stock valued at $2,886,000 after buying an additional 7,100 shares during the last quarter. 64.05% of the stock is currently owned by institutional investors and hedge funds.

Exactech, Inc. (NASDAQ:EXAC) opened at 29.95 on Friday. The firm has a market capitalization of $429.72 million, a P/E ratio of 575.96 and a beta of 1.02. Exactech, Inc. has a 52-week low of $22.20 and a 52-week high of $31.90. The firm’s 50-day moving average is $29.41 and its 200-day moving average is $28.11.

Exactech (NASDAQ:EXAC) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. Exactech had a return on equity of 7.39% and a net margin of 0.30%. The business had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $67.75 million. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Exactech, Inc. will post $1.29 earnings per share for the current year.

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Several research firms have recently weighed in on EXAC. Zacks Investment Research raised shares of Exactech from a “sell” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub raised shares of Exactech from a “sell” rating to a “hold” rating in a report on Friday. Gabelli reissued a “buy” rating on shares of Exactech in a report on Monday, July 31st. Finally, TheStreet raised shares of Exactech from a “c+” rating to a “b” rating in a report on Tuesday, April 25th.

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

Institutional Ownership by Quarter for Exactech (NASDAQ:EXAC)

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