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Exactech (EXAC) Scales a 52-Week High on Product Innovation

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Shares of Exactech Inc. , renowned developer of bone and joint restoration products, rallied to a new 52-week high of $27.51 on Jul 11, closing a tad bit lower at $27.34. This represents a strong one-year return of approximately 30.49%, substantially higher than the S&P 500’s 1.79% over the same time period.

This Zacks Rank #3 (Hold) stock has a market cap of $388.35 million and an impressive long-term expected earnings growth rate of 8.90%.

Over the past one month, Exactech witnessed a couple of positive developments which drove its share price significantly. On Jun 20, Exactech announced the launch of Acapella One Cervical Spacer System, which was another milestone addition to its line of innovative products. The product will boost Exatech’s Spine service business to a large extent, fortifying its hold in the space.

In the same month, Exactech announced investment in two Arcam Q10plus devices to expand its hold in manufacturing technology. The company is confident that this investment will benefit its existing manufacturing systems.

EXACTECH INC Price and Consensus

EXACTECH INC Price and Consensus | EXACTECH INC Quote

In this regard, we note that, in a continuous bid to expand in the field of orthopedic implant devices, Exactech launched several products last year and has maintained the trend in 2016 so far. These along with its pilot launches of three revision system pertaining to hip stem and knee will drive growth in the second and third quarter of 2016.

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