Exactech (EXAC) Gets FDA Approval For ExactechGPS Application

Gainesville, FL-based Exactech Inc. (NASDAQ:EXAC) recently announced that it has received clearance from the U.S. Food and Drug Administration to market its proprietary ExactechGPS Shoulder Application in US.

For the past three months, Exactech has been trading above the Zacks categorized Medical Instruments sub-industry. The company’s stock gained 20.68%, higher than the sub-industry’s paltry gain of 6.88%. We believe that the company is currently riding high on its regulatory approvals and product launches.

Coming back to the news, the ExactechGPS Shoulder Application system is designed to provide real-time visual guidance and alignment data in total joint arthroplasty to orthopedic surgeons. The system comprises a touch screen and proprietary camera system. The technology exhibits a high level of accuracy and precision and combining preoperative planning with computer-assisted surgery, it allows for greater intra-operative visibility in standard and challenging shoulder arthroplasty.

Going forward, management is bullish over the domestic regulatory approval for the ExactechGPS Shoulder Application and is optimistic that it would continue to witness the ongoing selling momentum. The application’s global sales surged 21% in the first quarter of 2017 and has been used successfully in the U.K., Spain, France and Australia.

Exactech develops and markets orthopaedic implant devices, surgical instruments and biologic materials. The company’s orthopaedic products are used in the restoration of bones and joints that have deteriorated as a result of injury or diseases. Exactech markets its products in the US, in addition to more than 30 markets in Europe, Latin America, Asia and the Pacific.

Zacks Rank & Key Picks

Currently, Exactech has a Zacks Rank #3 (Hold).

Better ranked stocks in the broader medical sector are Luminex Corporation (NASDAQ:LMNX) , Hologic, Inc. (NASDAQ:HOLX) and Inogen Inc (NASDAQ:INGN) . Inogen and Luminex sport a Zacks Rank #1 (Strong Buy), while Hologic carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Inogen promises a long-term adjusted earnings growth of almost 17.5%. The stock returned 84.1% over the last one year.

Luminex has an expected long-term adjusted earnings growth of almost 16.3%. The stock added roughly 17.6% over the last three months.

Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 28.8%.

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