Exactech (EXAC) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.29. The company posted revenue of $65.30 million in the period, compared to analysts expectations of $63.54 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.
Many Wall Street Analysts have commented on Exactech. Company shares were Upgraded by Robert W. Baird on Apr 13, 2016 to ” Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .
Exactech opened for trading at $22.48 and hit $22.86 on the upside on Friday, eventually ending the session at $22.66, with a gain of 1.03% or 0.23 points. The heightened volatility saw the trading volume jump to 29,386 shares. Company has a market cap of $318 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.