Exactech (EXAC) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Exactech (NASDAQ:EXAC) from a hold rating to a sell rating in a research report released on Thursday morning.

Several other brokerages also recently weighed in on EXAC. Robert W. Baird downgraded Exactech from an outperform rating to a neutral rating and set a $42.00 price objective for the company. in a research report on Monday, October 23rd. ValuEngine downgraded Exactech from a buy rating to a hold rating in a research report on Friday, December 1st. Sidoti downgraded Exactech from a buy rating to a neutral rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded Exactech from a sell rating to a hold rating in a report on Tuesday, December 26th. Finally, Gabelli downgraded Exactech from a buy rating to a hold rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $49.00.

Shares of Exactech (NASDAQ:EXAC) opened at $49.25 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.08 and a quick ratio of 2.09. Exactech has a 12-month low of $23.75 and a 12-month high of $50.95. The firm has a market capitalization of $710.38, a P/E ratio of 2,462.50, a price-to-earnings-growth ratio of 3.66 and a beta of 0.90.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Exactech by 5.6% during the third quarter. Dimensional Fund Advisors LP now owns 874,161 shares of the medical equipment provider’s stock valued at $28,803,000 after acquiring an additional 46,400 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Exactech by 24.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 764,508 shares of the medical equipment provider’s stock valued at $37,805,000 after acquiring an additional 151,991 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Exactech by 138.7% during the fourth quarter. Gabelli Funds LLC now owns 701,748 shares of the medical equipment provider’s stock valued at $34,701,000 after acquiring an additional 407,724 shares in the last quarter. Water Island Capital LLC bought a new position in shares of Exactech during the fourth quarter valued at approximately $26,772,000. Finally, Vanguard Group Inc. raised its holdings in shares of Exactech by 1.6% during the second quarter. Vanguard Group Inc. now owns 415,253 shares of the medical equipment provider’s stock valued at $12,375,000 after acquiring an additional 6,594 shares in the last quarter. Institutional investors own 61.22% of the company’s stock.

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About Exactech

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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