Exactech (EXAC) is Upgraded by Robert W. Baird to Outperform, Raises Price Target to $ 26

Exactech (EXAC) was Upgraded by Robert W. Baird to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $21 . Earlier the firm had a rating of “Neutral ” on the company shares. Robert W. Baird advised their investors in a research report released on Apr 13, 2016.

On the company’s financial health, Exactech reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 16, 2016. Analyst had a consensus of $0.28. The company had revenue of $62.70 million for the quarter, compared to analysts expectations of $61.48 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.

Exactech opened for trading at $19.71 and hit $20.3768 on the upside on Monday, eventually ending the session at $20.15, with a gain of 1.92% or 0.38 points. The heightened volatility saw the trading volume jump to 53,004 shares. Company has a market cap of $283 M.

In a different news, on Apr 4, 2016, Gary J Miller (Executive Vice President, R&D) sold 7,000 shares at $19.95 per share price. According to the SEC, on Mar 11, 2016, Joel C Phillips (EVP/CFO/Treasurer) sold 2,000 shares at $18.71 per share price. On Mar 11, 2016, James G Binch (director) sold 1,000 shares at $18.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Exactech Inc. develops manufactures markets distributes and sells orthopedic implant devices related surgical instrumentation and biologic services to hospitals and physicians in the United States and internationally. The Company’s operating segments are represented by its major product lines: knee implants hip implants biologics and spine extremity implants and other products. Its other products segment includes miscellaneous sales categories such as surgical instruments held for sale bone cement instrument rental fees shipping charges and other implant product lines. The Company manufactures some components of its knee extremity and hip joint replacement systems at its facility in Gainesville Florida. Its joint replacement products are used by orthopedic surgeons to repair or replace joints that have deteriorated as a result of injury or disease. Its spinal implants are used as an adjunct to the fusion of vertebrae in the treatment of spinal disease and deformity.


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