Citigroup Inc. cut its stake in shares of Exactech, Inc. (NASDAQ:EXAC) by 23.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,227 shares of the medical equipment provider’s stock after selling 3,180 shares during the quarter. Citigroup Inc. owned approximately 0.07% of Exactech worth $305,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Salem Investment Counselors Inc. acquired a new stake in Exactech in the first quarter valued at approximately $129,000. Bank of Montreal Can acquired a new stake in Exactech in the second quarter valued at approximately $134,000. American International Group Inc. boosted its stake in Exactech by 7.1% in the first quarter. American International Group Inc. now owns 6,423 shares of the medical equipment provider’s stock valued at $162,000 after acquiring an additional 424 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Exactech by 2,693.8% in the first quarter. JPMorgan Chase & Co. now owns 7,627 shares of the medical equipment provider’s stock valued at $192,000 after acquiring an additional 7,354 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Exactech in the second quarter valued at approximately $233,000. 64.09% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Exactech, Inc. (NASDAQ EXAC) opened at 41.85 on Friday. The firm has a market capitalization of $600.46 million, a P/E ratio of 804.81 and a beta of 1.01. The stock’s 50 day moving average is $32.78 and its 200 day moving average is $30.48. Exactech, Inc. has a 1-year low of $22.20 and a 1-year high of $42.55.
Exactech (NASDAQ:EXAC) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.33 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.33. The firm had revenue of $67.30 million for the quarter, compared to the consensus estimate of $67.75 million. Exactech had a net margin of 0.30% and a return on equity of 7.39%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. Equities analysts predict that Exactech, Inc. will post $1.29 earnings per share for the current year.
In related news, Director Fern Watts sold 1,013 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $29.04, for a total value of $29,417.52. Following the transaction, the director now directly owns 4,727 shares of the company’s stock, valued at approximately $137,272.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 28.30% of the company’s stock.
EXAC has been the subject of several recent analyst 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. Gabelli restated a “buy” rating on shares of Exactech in a research note on Monday, July 31st. Sidoti downgraded shares of Exactech from a “buy” rating to a “neutral” rating in a research note on Monday. BidaskClub upgraded shares of Exactech from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research downgraded shares of Exactech from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Exactech currently has an average rating of “Hold” and an average price target of $42.00.
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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