Brookstone Capital Management Sells 5,077 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Brookstone Capital Management decreased its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 34.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,876 shares of the medical research company’s stock after selling 5,077 shares during the quarter. Brookstone Capital Management’s holdings in Exact Sciences were worth $555,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank lifted its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences in the second quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Exact Sciences during the third quarter valued at $34,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences during the third quarter valued at $35,000. Finally, Modus Advisors LLC purchased a new stake in shares of Exact Sciences during the fourth quarter valued at $43,000. Institutional investors own 88.82% of the company’s stock.

Insider Buying and Selling at Exact Sciences

In related news, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.36% of the stock is currently owned by company insiders.

Exact Sciences Price Performance

NASDAQ EXAS opened at $51.74 on Friday. The business’s fifty day moving average is $57.15 and its 200 day moving average is $59.03. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The company has a market capitalization of $9.58 billion, a PE ratio of -44.22 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts predict that Exact Sciences Co. will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EXAS. TD Cowen boosted their target price on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Bank of America reduced their price target on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Jefferies Financial Group increased their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group cut their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Citigroup decreased their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.94.

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.