Exactech, Inc. (EXAC) Position Reduced by Morgan Stanley

Morgan Stanley reduced its position in shares of Exactech, Inc. (NASDAQ:EXAC) by 26.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 92,596 shares of the medical equipment provider’s stock after selling 33,373 shares during the period. Morgan Stanley owned approximately 0.65% of Exactech worth $2,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Exactech by 3.4% in the first quarter. Vanguard Group Inc. now owns 408,659 shares of the medical equipment provider’s stock worth $10,299,000 after buying an additional 13,263 shares in the last quarter. Royce & Associates LP boosted its position in Exactech by 21.1% in the first quarter. Royce & Associates LP now owns 290,889 shares of the medical equipment provider’s stock worth $7,330,000 after buying an additional 50,761 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 worth $34,067,000 after buying an additional 5,394 shares in the last quarter. ClariVest Asset Management LLC boosted its position in Exactech by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 10,908 shares of the medical equipment provider’s stock worth $275,000 after buying an additional 554 shares in the last quarter. Finally, Spark Investment Management LLC boosted its position in Exactech by 51.5% in the first quarter. Spark Investment Management LLC now owns 71,500 shares of the medical equipment provider’s stock worth $1,801,000 after buying an additional 24,300 shares in the last quarter. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Exactech, Inc. (EXAC) traded down 1.79% on Friday, reaching $30.25. The company had a trading volume of 24,468 shares. Exactech, Inc. has a 52-week low of $22.20 and a 52-week high of $31.90. The stock has a market capitalization of $434.03 million, a PE ratio of 581.73 and a beta of 1.02. The stock has a 50 day moving average price of $29.54 and a 200 day moving average price of $28.32.

Exactech (NASDAQ:EXAC) last released its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $67.30 million for the quarter, compared to analyst estimates of $67.75 million. Exactech had a net margin of 0.30% and a return on equity of 7.39%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. Analysts expect that Exactech, Inc. will post $1.29 EPS for the current year.

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A number of research analysts recently commented on the company. Zacks Investment Research upgraded Exactech from a “sell” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub upgraded Exactech from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, Gabelli reiterated a “buy” rating on shares of Exactech in a report on Monday, July 31st.

In other Exactech news, Director William B. Locander sold 988 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $30.34, for a total value of $29,975.92. Following the transaction, the director now owns 8,555 shares in the company, valued at approximately $259,558.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Fern Watts sold 1,013 shares of the company’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 transaction of $29,417.52. Following the completion of the transaction, the director now owns 4,727 shares in the company, valued at approximately $137,272.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,748 shares of company stock worth $80,608. Company insiders own 28.30% of the company’s stock.

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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