Exact Sciences Co. (NASDAQ:EXAS) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in Exact Sciences Co. (NASDAQ:EXAS) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,986 shares of the medical research company’s stock after acquiring an additional 402 shares during the period. Intech Investment Management LLC’s holdings in Exact Sciences were worth $816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Chicago Partners Investment Group LLC grew its holdings in shares of Exact Sciences by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after acquiring an additional 158 shares during the last quarter. Amalgamated Bank raised its holdings in Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after buying an additional 284 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after buying an additional 340 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Exact Sciences by 6.2% in the second quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock worth $258,000 after acquiring an additional 356 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Trading Up 2.6 %

Shares of EXAS stock opened at $61.69 on Friday. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a market cap of $11.42 billion, a PE ratio of -52.73 and a beta of 1.27. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $64.20 and its two-hundred day moving average is $55.93.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results 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 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The company’s revenue was up 12.8% on a year-over-year basis. Equities analysts predict that Exact Sciences Co. will post -1.13 EPS for the current year.

Wall Street Analyst Weigh In

EXAS has been the subject of several research analyst reports. William Blair restated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, November 21st. Citigroup decreased their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Piper Sandler dropped their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. BTIG Research raised their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus dropped their target price on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $75.29.

Insider Activity at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the 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 of the company’s stock, valued at approximately $958,090. This represents a 6.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is owned by corporate insiders.

About Exact Sciences

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.