Nine Chapters Capital Management Lowers stake in Exactech (EXAC)

Exactech (EXAC) : Nine Chapters Capital Management reduced its stake in Exactech by 51.98% during the most recent quarter end. The investment management company now holds a total of 8,500 shares of Exactech which is valued at $240,720 after selling 9,200 shares in Exactech , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Exactech makes up approximately 4.60% of Nine Chapters Capital Management’s portfolio.

Other Hedge Funds, Including , Wedge Capital Management L L Pnc reduced its stake in EXAC by selling 6,200 shares or 11.99% in the most recent quarter. The Hedge Fund company now holds 45,500 shares of EXAC which is valued at $1,229,865. Exactech makes up approx 0.01% of Wedge Capital Management L L Pnc’s portfolio.Clean Yield Group reduced its stake in EXAC by selling 3,468 shares or 2.95% in the most recent quarter. The Hedge Fund company now holds 113,929 shares of EXAC which is valued at $3,066,969. Exactech makes up approx 1.31% of Clean Yield Group’s portfolio.Strs Ohio reduced its stake in EXAC by selling 6,900 shares or 22.33% in the most recent quarter. The Hedge Fund company now holds 24,000 shares of EXAC which is valued at $646,080.

Exactech closed down -0.1 points or -0.36% at $27.79 with 25,784 shares getting traded on Wednesday. Post opening the session at $28, the shares hit an intraday low of $27.5101 and an intraday high of $28.18 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Exactech reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.30. The company had revenue of $66.10 million for the quarter, compared to analysts expectations of $64.22 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

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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