Wells Fargo & Company MN lifted its position in shares of Exactech, Inc. (NASDAQ:EXAC) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,907 shares of the medical equipment provider’s stock after purchasing an additional 9,566 shares during the period. Wells Fargo & Company MN owned 0.53% of Exactech worth $2,534,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in EXAC. Hancock Holding Co. bought a new position in shares of Exactech during the second quarter worth approximately $212,000. Citadel Advisors LLC bought a new position in shares of Exactech during the second quarter worth approximately $235,000. Voya Investment Management LLC bought a new position in shares of Exactech during the second quarter worth approximately $243,000. The Manufacturers Life Insurance Company increased its stake in shares of Exactech by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 9,323 shares of the medical equipment provider’s stock worth $278,000 after purchasing an additional 289 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Exactech during the second quarter worth approximately $359,000. Institutional investors own 66.30% of the company’s stock.
Exactech, Inc. (EXAC) opened at $50.50 on Friday. Exactech, Inc. has a 52 week low of $23.30 and a 52 week high of $50.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 4.08. The company has a market capitalization of $728.41, a price-to-earnings ratio of 41.74, a price-to-earnings-growth ratio of 3.73 and a beta of 1.02.
Exactech (NASDAQ:EXAC) last posted its quarterly earnings data on Monday, October 30th. The medical equipment provider reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). Exactech had a return on equity of 7.22% and a net margin of 0.18%. The company had revenue of $61.40 million for the quarter, compared to the consensus estimate of $61.78 million. equities analysts forecast that Exactech, Inc. will post 1.29 earnings per share for the current year.
EXAC has been the topic of a number of recent research reports. Robert W. Baird set a $34.00 target price on Exactech and gave the stock a “buy” rating in a research note on Sunday, October 15th. Sidoti lowered Exactech from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Gabelli lowered Exactech from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Zacks Investment Research lowered Exactech from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, ValuEngine lowered Exactech from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Six equities research analysts have rated the stock with a hold rating, Exactech currently has an average rating of “Hold” and a consensus target price of $49.00.
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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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