Public Employees Retirement Association of Colorado Decreases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Public Employees Retirement Association of Colorado trimmed its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,333 shares of the medical research company’s stock after selling 955 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Exact Sciences were worth $817,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its stake in 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 worth $31,000 after purchasing an additional 179 shares in the last quarter. Able Wealth Management LLC purchased a new position in Exact Sciences in the 4th quarter worth approximately $45,000. EverSource Wealth Advisors LLC lifted its stake in Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after purchasing an additional 340 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Exact Sciences during the 1st quarter worth approximately $55,000. Finally, Quest Partners LLC acquired a new stake in shares of Exact Sciences during the 4th quarter worth approximately $66,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EXAS shares. Evercore ISI cut their price target on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group cut their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Stifel Nicolaus cut their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Jefferies Financial Group started coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a “buy” rating and a $75.00 price target for the company. Finally, Scotiabank initiated coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.14.

Insider Transactions at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction 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 completion of the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at approximately $958,090. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $67.77 on Thursday. The company has a fifty day simple moving average of $58.53 and a two-hundred day simple moving average of $56.04. The company has a market cap of $12.52 billion, a price-to-earnings ratio of -51.34 and a beta of 1.26. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62.

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

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.