Gulf International Bank UK Ltd Trims Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Gulf International Bank UK Ltd reduced its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,224 shares of the medical research company’s stock after selling 622 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Exact Sciences were worth $968,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital World Investors boosted its position in Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after buying an additional 5,557,168 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Exact Sciences in the second quarter valued at approximately $163,896,000. Champlain Investment Partners LLC boosted its holdings in shares of Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after purchasing an additional 1,438,010 shares during the period. Sculptor Capital LP bought a new position in Exact Sciences in the second quarter worth approximately $32,819,000. Finally, Samlyn Capital LLC purchased a new position in Exact Sciences during the 2nd quarter worth $30,426,000. 88.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $51.48 on Friday. The firm has a market capitalization of $9.51 billion, a P/E ratio of -53.62 and a beta of 1.27. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. 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 company has a 50 day moving average price of $66.76 and a 200 day moving average price of $56.55.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Exact Sciences Co. will post -0.87 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI dropped their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday. TD Cowen dropped their target price on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday. Raymond James restated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Robert W. Baird cut their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Sanford C. Bernstein boosted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

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.