Zacks Investment Research Lowers Exactech, Inc. (EXAC) to Sell

Zacks Investment Research downgraded shares of Exactech, Inc. (NASDAQ:EXAC) from a hold rating to a sell rating in a research note issued to investors on Wednesday, October 25th.

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 analysts have also recently issued reports on the company. BidaskClub cut Exactech from a hold rating to a sell rating in a report on Monday, July 31st. Robert W. Baird cut Exactech from an outperform rating to a neutral rating and set a $42.00 price target on the stock. in a report on Monday, October 23rd. Sidoti cut Exactech from a buy rating to a neutral rating in a report on Monday, October 23rd. Finally, Gabelli cut 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 four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $42.00.

Exactech (EXAC) traded up $0.05 during trading on Wednesday, hitting $41.85. The company’s stock had a trading volume of 290,000 shares, compared to its average volume of 60,245. The company has a market cap of $600.51, a PE ratio of 34.54, a price-to-earnings-growth ratio of 3.59 and a beta of 1.04. Exactech has a 52-week low of $23.30 and a 52-week high of $42.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.08 and a quick ratio of 2.18.

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). The business had revenue of $61.40 million for the quarter, compared to the consensus estimate of $61.78 million. Exactech had a return on equity of 7.22% and a net margin of 0.18%. sell-side analysts expect that Exactech will post 1.29 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of Exactech in the 2nd quarter worth $134,000. American International Group Inc. lifted its holdings in shares of Exactech by 7.1% in the 1st quarter. American International Group Inc. now owns 6,423 shares of the medical equipment provider’s stock worth $162,000 after purchasing an additional 424 shares in the last quarter. Hancock Holding Co. bought a new position in shares of Exactech in the 2nd quarter worth $212,000. JPMorgan Chase & Co. lifted its holdings in shares of Exactech by 2,693.8% in the 1st quarter. JPMorgan Chase & Co. now owns 7,627 shares of the medical equipment provider’s stock worth $192,000 after purchasing an additional 7,354 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Exactech in the 2nd quarter worth $233,000. Institutional investors own 64.23% 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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