Blue Trust Inc. Boosts Stake in Exact Sciences Co. (NASDAQ:EXAS)

Blue Trust Inc. lifted its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 61.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,220 shares of the medical research company’s stock after purchasing an additional 1,978 shares during the quarter. Blue Trust Inc.’s holdings in Exact Sciences were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management purchased a new stake in shares of Exact Sciences in the 1st quarter worth about $387,000. Wealth Enhancement Advisory Services LLC grew its holdings in Exact Sciences by 1.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,809 shares of the medical research company’s stock worth $2,473,000 after purchasing an additional 498 shares during the period. SteelPeak Wealth LLC bought a new position in shares of Exact Sciences during the first quarter valued at approximately $287,000. Diversified Trust Co lifted its holdings in shares of Exact Sciences by 138.0% during the first quarter. Diversified Trust Co now owns 9,980 shares of the medical research company’s stock valued at $689,000 after purchasing an additional 5,786 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Exact Sciences by 14.4% during the first quarter. Wasatch Advisors LP now owns 299,248 shares of the medical research company’s stock valued at $20,666,000 after purchasing an additional 37,668 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Price Performance

NASDAQ EXAS opened at $70.27 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of -53.23 and a beta of 1.27. The business’s fifty day moving average price is $65.05 and its 200-day moving average price is $56.53.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping 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 business had revenue of $699.26 million for the quarter, compared to analysts’ expectations of $690.02 million. During the same period 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. On average, equities analysts predict that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Insider Activity at Exact Sciences

In other Exact Sciences 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 value of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Stifel Nicolaus reduced their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Scotiabank assumed coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price target on the stock. The Goldman Sachs Group reduced their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Benchmark dropped their target price on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $78.38.

Exact Sciences Company 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.