Bamco Inc. NY decreased its position in Exact Sciences Co. (NASDAQ:EXAS – Free Report) by 32.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the medical research company’s stock after selling 19,000 shares during the period. Bamco Inc. NY’s holdings in Exact Sciences were worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXAS. True Wealth Design LLC acquired a new stake in Exact Sciences during the 4th quarter worth about $30,000. KB Financial Partners LLC acquired a new stake in shares of Exact Sciences during the 2nd quarter valued at about $32,000. BluePath Capital Management LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at about $33,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at about $34,000. Finally, Money Concepts Capital Corp acquired a new stake in shares of Exact Sciences during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 89.13% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday. Wolfe Research assumed coverage on Exact Sciences in a report on Wednesday, December 13th. They issued an “outperform” rating and a $95.00 price objective on the stock. Benchmark raised shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Tuesday, January 2nd. Guggenheim began coverage on shares of Exact Sciences in a research note on Thursday, December 14th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.31.
Exact Sciences Price Performance
Shares of NASDAQ EXAS opened at $56.31 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32. Exact Sciences Co. has a fifty-two week low of $56.05 and a fifty-two week high of $100.77. The firm has a market capitalization of $10.22 billion, a PE ratio of -49.39 and a beta of 1.27. The stock’s 50-day simple moving average is $65.93 and its 200-day simple moving average is $68.45.
Exact Sciences (NASDAQ:EXAS – Get Free Report) last issued its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The business had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. During the same quarter last year, the company earned ($0.72) EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts forecast that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.
Insiders Place Their Bets
In other Exact Sciences news, insider Jacob A. Orville sold 1,879 shares of Exact Sciences stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $56.89, for a total value of $106,896.31. Following the transaction, the insider now directly owns 11,754 shares in the company, valued at approximately $668,685.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Exact Sciences news, insider Jacob A. Orville sold 1,879 shares of Exact Sciences stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $56.89, for a total value of $106,896.31. Following the transaction, the insider now directly owns 11,754 shares in the company, valued at approximately $668,685.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James Herriott sold 784 shares of Exact Sciences stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total value of $44,601.76. Following the completion of the transaction, the general counsel now owns 8,097 shares in the company, valued at $460,638.33. The disclosure for this sale can be found here. Insiders have sold a total of 49,569 shares of company stock valued at $3,034,487 over the last quarter. Company insiders own 1.30% of the company’s stock.
Exact Sciences 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.