Wedge Capital Management L L P NC reduced its stake in shares of Exactech Inc. (NASDAQ:EXAC) by 12.0% during the second quarter, Holdings Channel reports. The institutional investor owned 45,500 shares of the company’s stock after selling 6,200 shares during the period. Wedge Capital Management L L P NC’s holdings in Exactech were worth $1,217,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in EXAC. Kennedy Capital Management Inc. increased its position in Exactech by 0.5% in the first quarter. Kennedy Capital Management Inc. now owns 204,660 shares of the company’s stock valued at $4,146,000 after buying an additional 966 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Exactech during the first quarter valued at approximately $173,000. ClariVest Asset Management LLC acquired a new position in Exactech during the second quarter valued at approximately $305,000. Acadian Asset Management LLC increased its position in Exactech by 51.3% in the second quarter. Acadian Asset Management LLC now owns 507,639 shares of the company’s stock valued at $13,574,000 after buying an additional 172,172 shares during the period. Finally, Highland Capital Management LLC acquired a new position in Exactech during the second quarter valued at approximately $304,000. Hedge funds and other institutional investors own 64.97% of the company’s stock.
Exactech Inc. (NASDAQ:EXAC) traded up 1.13% during midday trading on Tuesday, reaching $26.96. 14,321 shares of the company traded hands. Exactech Inc. has a one year low of $16.11 and a one year high of $28.66. The firm has a 50-day moving average price of $27.23 and a 200-day moving average price of $25.67. The firm has a market capitalization of $381.46 million, a price-to-earnings ratio of 24.29 and a beta of 0.86.
Exactech (NASDAQ:EXAC) last released its earnings results on Monday, August 1st. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The company had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $64.18 million. Exactech had a return on equity of 6.84% and a net margin of 6.32%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. Equities analysts predict that Exactech Inc. will post $1.18 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Exactech from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Wednesday, August 3rd.
In related news, Director Fern Watts sold 1,100 shares of Exactech stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $27.68, for a total value of $30,448.00. Following the completion of the sale, the director now owns 4,936 shares of the company’s stock, valued at approximately $136,628.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Bruce E. Thompson sold 1,433 shares of Exactech stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $27.97, for a total value of $40,081.01. Following the completion of the sale, the senior vice president now directly owns 25,375 shares of the company’s stock, valued at approximately $709,738.75. The disclosure for this sale can be found here. Insiders own 29.80% of the company’s stock.
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.
Want to see what other hedge funds are holding EXAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exactech Inc. (NASDAQ:EXAC).
Receive News & Ratings for Exactech Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exactech Inc. and related companies with MarketBeat.com's FREE daily email newsletter.