Exactech (EXAC) Raised to “Hold” at Zacks Investment Research

Exactech (NASDAQ:EXAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Exactech, Inc. develops, manufactures, markets and distributes and sells orthopedic implant devices, related surgical instrumentation and biologic services to hospitals and physicians in the United States and internationally. Its principal products include its knee and hip replacement systems. Exactech, Inc. is headquartered in Gainesville, Florida. “

A number of other equities research analysts have also recently commented on EXAC. Robert W. Baird set a $34.00 price objective on shares of Exactech and gave the stock a “buy” rating in a research note on Sunday, October 15th. ValuEngine cut shares of Exactech from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Gabelli cut shares of Exactech from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Sidoti cut shares of Exactech from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating, Exactech presently has an average rating of “Hold” and an average price target of $49.00.

Exactech (NASDAQ:EXAC) traded down $0.45 on Tuesday, reaching $49.40. 21,180 shares of the company’s stock were exchanged, compared to its average volume of 77,600. Exactech has a 12 month low of $23.30 and a 12 month high of $50.95. The company has a quick ratio of 2.09, a current ratio of 4.08 and a debt-to-equity ratio of 0.06. The stock has a market cap of $718.51, a price-to-earnings ratio of 2,470.00, a PEG ratio of 4.01 and a beta of 1.02.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Exactech by 5.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 874,161 shares of the medical equipment provider’s stock worth $28,803,000 after purchasing an additional 46,400 shares during the period. Vanguard Group Inc. grew its stake in shares of Exactech by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 415,253 shares of the medical equipment provider’s stock worth $12,375,000 after purchasing an additional 6,594 shares during the period. FMR LLC grew 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 valued at $7,506,000 after acquiring an additional 85,709 shares during the period. State Street Corp grew its stake in Exactech by 7.5% in the 2nd quarter. State Street Corp now owns 207,721 shares of the medical equipment provider’s stock valued at $6,192,000 after acquiring an additional 14,537 shares during the period. Finally, Northpointe Capital LLC acquired a new stake in Exactech in the 3rd quarter valued at $5,102,000. 66.30% of the stock is currently owned by institutional investors and hedge funds.

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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.

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