Duncan-Williams Reiterates Buy Rating On Exactech

According to Duncan-Williams, Exactech (NASDAQ: EXAC) announced the launch of the Proliant Polyaxial Pedicle Screw System for orthopedic and neurosurgeons.

Duncan-Williams said that it is encouraged by this product launch as it represents the first spinal system developed in-house by EXAC. EXAC established its spinal division with two acquisitions over the past three years. “EXAC began conducting clinical evaluations of the Proliant system at the end of March 2011. The full market launch of the Proliant System is targeted for the second half of 2011. We are reiterating our BUY rating on EXAC and are maintaining our twelve month price target of $23.00. Our price target is 20 times our 2011 EPS estimate of $1.15.”

Exactech closed yesterday at $18.78.