Exactech (EXAC) Stock Price Up 19.1%

Exactech, Inc. (NASDAQ:EXAC) rose 19.1% on Tuesday . The stock traded as high as $50.95 and last traded at $50.42. Approximately 513,500 shares changed hands during trading, an increase of 638% from the average daily volume of 69,586 shares. The stock had previously closed at $42.35.

EXAC has been the subject of several recent research reports. Robert W. Baird downgraded shares of Exactech from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Monday, October 23rd. ValuEngine cut shares of Exactech from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Sidoti cut shares of Exactech from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. BidaskClub raised shares of Exactech from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, Gabelli cut shares of Exactech from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $42.00.

The stock has a market cap of $724.99, a price-to-earnings ratio of 41.57, a PEG ratio of 4.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.08 and a quick ratio of 2.09.

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

A number of institutional investors have recently modified their holdings of EXAC. Vanguard Group Inc. increased its holdings in 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 in the last quarter. Geode Capital Management LLC increased its holdings in Exactech by 4.4% in the first quarter. Geode Capital Management LLC now owns 121,104 shares of the medical equipment provider’s stock valued at $3,051,000 after buying an additional 5,069 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 in the last quarter. Renaissance Technologies LLC grew its position in shares of Exactech by 4.6% in the first quarter. Renaissance Technologies LLC now owns 110,600 shares of the medical equipment provider’s stock valued at $2,787,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Exactech by 14.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 53,918 shares of the medical equipment provider’s stock valued at $1,359,000 after purchasing an additional 6,742 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

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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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