Tredje AP fonden Decreases Stake in Exact Sciences Co. (NASDAQ:EXAS)

Tredje AP fonden cut its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,160 shares of the medical research company’s stock after selling 444 shares during the period. Tredje AP fonden’s holdings in Exact Sciences were worth $1,190,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EXAS. Asahi Life Asset Management CO. LTD. boosted its position in shares of Exact Sciences by 4.2% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock valued at $325,000 after acquiring an additional 175 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Exact Sciences by 2.1% during the 1st quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock valued at $588,000 after buying an additional 175 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 179 shares during the last quarter. Sanders Morris Harris LLC grew its position in Exact Sciences by 4.2% in the first quarter. Sanders Morris Harris LLC now owns 5,000 shares of the medical research company’s stock worth $345,000 after acquiring an additional 200 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Exact Sciences by 1.7% during the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Down 1.0 %

Shares of NASDAQ:EXAS opened at $70.09 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $56.85 and its 200 day moving average is $55.78. The stock has a market cap of $12.93 billion, a P/E ratio of -53.10 and a beta of 1.26. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. During the same quarter last year, the firm posted ($0.45) earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts predict that Exact Sciences Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group dropped their target price on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 price objective on shares of Exact Sciences in a research note on Friday, September 13th. Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. BTIG Research dropped their price target on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, Piper Sandler increased their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $78.14.

Exact Sciences Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.