Eagle Wealth Strategies LLC Takes $272,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Eagle Wealth Strategies LLC bought a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,000 shares of the medical research company’s stock, valued at approximately $272,000.

Other hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Exact Sciences by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after acquiring an additional 12,349 shares in the last quarter. Thompson Investment Management Inc. grew its holdings in Exact Sciences by 13.1% in the 1st quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after buying an additional 18,595 shares during the last quarter. Vanguard Group Inc. grew its holdings in Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after buying an additional 115,058 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after acquiring an additional 10,356 shares during the period. Finally, Profund Advisors LLC lifted its position in shares of Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after acquiring an additional 55,459 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

NASDAQ EXAS traded up $0.16 during trading on Wednesday, reaching $68.73. 31,514 shares of the company’s stock were exchanged, compared to its average volume of 2,617,164. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The business has a 50 day moving average price of $62.21 and a 200-day moving average price of $56.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The stock has a market capitalization of $12.68 billion, a P/E ratio of -51.95 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last posted its 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 company had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. During the same quarter in the prior year, the business earned ($0.45) earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. The Goldman Sachs Group cut their target price on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Scotiabank began coverage on Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price for the company. Benchmark lowered their target price on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company began coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.38.

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.