State Board of Administration of Florida Retirement System acquired a new stake in Exactech Inc. (NASDAQ:EXAC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,631 shares of the company’s stock, valued at approximately $204,000. State Board of Administration of Florida Retirement System owned 0.05% of Exactech at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY bought a new position in Exactech during the first quarter valued at $173,000. Highland Capital Management LLC bought a new position in Exactech during the second quarter valued at $304,000. ClariVest Asset Management LLC bought a new position in Exactech during the second quarter valued at $305,000. Jacobs Levy Equity Management Inc. bought a new position in Exactech during the first quarter valued at $325,000. Finally, Prudential Financial Inc. bought a new position in Exactech during the first quarter valued at $450,000. Institutional investors and hedge funds own 64.97% of the company’s stock.
Shares of Exactech Inc. (NASDAQ:EXAC) traded down 0.1121% during midday trading on Wednesday, hitting $26.8299. The stock had a trading volume of 4,897 shares. Exactech Inc. has a 1-year low of $16.11 and a 1-year high of $28.66. The company’s 50 day moving average price is $27.21 and its 200-day moving average price is $25.72. The firm has a market capitalization of $379.62 million, a PE ratio of 24.1711 and a beta of 0.86.
Exactech (NASDAQ:EXAC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The business had revenue of $66.10 million for the quarter, compared to analyst estimates of $64.18 million. Exactech had a net margin of 6.32% and a return on equity of 6.84%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. Equities analysts predict that Exactech Inc. will post $1.18 earnings per share for the current year.
Separately, Zacks Investment Research upgraded Exactech from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday, August 3rd.
In related news, CEO David W. Petty sold 3,550 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $27.75, for a total value of $98,512.50. Following the completion of the transaction, the chief executive officer now owns 63,122 shares of the company’s stock, valued at approximately $1,751,635.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Fern Watts sold 1,100 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $27.68, for a total transaction of $30,448.00. Following the completion of the transaction, the director now directly owns 4,936 shares of the company’s stock, valued at approximately $136,628.48. The disclosure for this sale can be found here. 29.80% of the stock is currently owned by corporate insiders.
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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