Commonwealth Equity Services LLC increased its position in Exact Sciences Co. (NASDAQ:EXAS – Get Rating) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,588 shares of the medical research company’s stock after buying an additional 3,174 shares during the period. Commonwealth Equity Services LLC’s holdings in Exact Sciences were worth $2,488,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC raised its position in shares of Exact Sciences by 44.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 667 shares of the medical research company’s stock valued at $26,000 after buying an additional 205 shares during the last quarter. Signaturefd LLC raised its position in shares of Exact Sciences by 45.7% in the third quarter. Signaturefd LLC now owns 957 shares of the medical research company’s stock valued at $31,000 after buying an additional 300 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Exact Sciences in the third quarter valued at approximately $33,000. National Bank of Canada FI raised its position in shares of Exact Sciences by 72.6% in the third quarter. National Bank of Canada FI now owns 1,189 shares of the medical research company’s stock valued at $39,000 after buying an additional 500 shares during the last quarter. Finally, Ronald Blue Trust Inc. acquired a new position in shares of Exact Sciences in the second quarter valued at approximately $91,000. Institutional investors and hedge funds own 90.30% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on EXAS. Raymond James downgraded shares of Exact Sciences from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 18th. Robert W. Baird boosted their target price on shares of Exact Sciences from $89.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Craig Hallum boosted their target price on shares of Exact Sciences from $44.00 to $55.00 in a report on Wednesday, February 22nd. SVB Leerink boosted their target price on shares of Exact Sciences from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, January 12th. Finally, Piper Sandler boosted their target price on shares of Exact Sciences from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, March 3rd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.43.
Exact Sciences Price Performance
Shares of EXAS stock opened at $61.99 on Friday. The company has a market capitalization of $11.05 billion, a PE ratio of -17.51 and a beta of 1.42. The firm has a fifty day simple moving average of $63.70 and a 200-day simple moving average of $48.12. The company has a current ratio of 2.38, a quick ratio of 2.09 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a twelve month low of $29.27 and a twelve month high of $76.94.
Exact Sciences (NASDAQ:EXAS – Get Rating) last announced its earnings results on Tuesday, February 21st. The medical research company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.18. The business had revenue of $553.00 million during the quarter, compared to the consensus estimate of $525.61 million. Exact Sciences had a negative net margin of 29.92% and a negative return on equity of 19.76%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.28) earnings per share. Equities research analysts anticipate that Exact Sciences Co. will post -2.76 earnings per share for the current fiscal year.
Insider Activity
In other news, EVP Sarah Condella sold 1,000 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. Following the completion of the transaction, the executive vice president now directly owns 85,090 shares in the company, valued at $5,105,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Sarah Condella sold 1,000 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. Following the sale, the executive vice president now directly owns 85,090 shares of the company’s stock, valued at $5,105,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel James Herriott sold 400 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $65.59, for a total transaction of $26,236.00. Following the completion of the sale, the general counsel now directly owns 9,095 shares in the company, valued at $596,541.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,126 shares of company stock worth $3,915,586. 1.30% of the stock is currently owned by company insiders.
About Exact Sciences
EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.
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