Executive Vice President of Exactech Gary J. Miller sold 16,356 shares of the orthopedic device company, according to a Ticker Report article.
The transaction occurred Wednesday. Here are five things to know about the transaction:
1. The average price for the shares Mr. Miller sold was $25.33. The total transaction was worth $414,297.48. The company's stock opened at $25.08 on Friday, June 27, 2014 and revenue per employee is $396,456. The average volume is 39,318. In March, the President David Petty was promoted to CEO and Co-Founder and CEO Bill Petty, MD, was named executive chairman.
2. Mr. Miller now directly owns 25,606 shares in the company, valued at around $648,600. The company reported $4.2 million in net income for the first quarter of 2014, with flat knee revenue at $20.6 million and a 25 percent increase in extremity implant revenue to $19.7 million. However, the company's biologic and spine revenue decreased 4 percent to $5.8 million.
"An extensive review of our global programs contributed to increases in both G&A and S&M expenses," said CFO Jody Phillips in a news release. "Research and development expenses increased 9 percent to $4.2 million during the first quarter reflecting ongoing significant investment in our new product pipeline. We are encouraged we were able to deliver operating margin and net income expansion considering these investments."
3. After the transaction on Wednesday shares were trading up 0.12 percent mid-day Thursday. The stock's 50-day moving average is $23.30 with a 52 week low of $18.34 and high of $25.45. The company celebrated its 20th year of the Exactech Knee this year.
4. The company has a market cap of $345 million and price-to-earnings ratio of 22.33, according to the Ticker Report article. In the first quarter financial report, the company reported an increase in gross margins due to the continued focus on manufacturing cost reduction and price impact of stronger European countries.
5. Earlier this month, the company introduced the ExactechGPS Guided Personalized Surgery at the Congress of the European Federation of National Associations of Orthopaedics and Traumatology. The system is the first advanced technology to provide real-time patient-specific solutions to total knee arthroplasty. It includes a touch screen in the sterile field and customized preferences.
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