Zacks Investment Management reduced its position in shares of Exactech Inc. (NASDAQ:EXAC) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,174 shares of the company’s stock after selling 1,753 shares during the period. Zacks Investment Management owned 0.21% of Exactech worth $816,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in EXAC. ClariVest Asset Management LLC acquired a new stake in Exactech during the second quarter worth approximately $305,000. Bank of New York Mellon Corp increased its stake in Exactech by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 53,050 shares of the company’s stock worth $1,419,000 after buying an additional 1,084 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Exactech during the second quarter worth approximately $3,345,000. State Board of Administration of Florida Retirement System acquired a new stake in Exactech during the second quarter worth approximately $204,000. Finally, Nationwide Fund Advisors increased its stake in Exactech by 1.1% in the second quarter. Nationwide Fund Advisors now owns 31,648 shares of the company’s stock worth $846,000 after buying an additional 344 shares during the period. 63.93% of the stock is owned by institutional investors.
Exactech Inc. (NASDAQ:EXAC) traded down 3.45% on Thursday, hitting $26.60. The stock had a trading volume of 18,717 shares. The stock has a 50-day moving average of $27.51 and a 200-day moving average of $27.02. The company has a market cap of $377.29 million, a PE ratio of 23.54 and a beta of 0.84. Exactech Inc. has a one year low of $16.88 and a one year high of $29.00.
Exactech (NASDAQ:EXAC) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The business had revenue of $59.90 million for the quarter, compared to analyst estimates of $58.69 million. Exactech had a return on equity of 6.81% and a net margin of 6.34%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. Equities analysts expect that Exactech Inc. will post $1.16 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded Exactech from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th.
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 implants, hip implants, biologics and spine, extremity implants and other products. Its other products segment includes surgical instruments, bone cement and other implant product lines.
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