Rhumbline Advisers reduced its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,852 shares of the medical research company’s stock after selling 19,115 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of EXACT Sciences worth $6,402,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in EXACT Sciences during the 2nd quarter valued at about $3,939,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of EXACT Sciences by 97.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,535 shares of the medical research company’s stock worth $1,816,000 after purchasing an additional 19,014 shares during the period. Dupont Capital Management Corp bought a new position in shares of EXACT Sciences in the 3rd quarter worth approximately $901,000. Chicago Equity Partners LLC bought a new position in shares of EXACT Sciences in the 3rd quarter worth approximately $2,312,000. Finally, State of Wisconsin Investment Board lifted its stake in shares of EXACT Sciences by 26.2% in the 3rd quarter. State of Wisconsin Investment Board now owns 107,253 shares of the medical research company’s stock worth $5,054,000 after purchasing an additional 22,253 shares during the period. 82.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of EXACT Sciences Co. (NASDAQ EXAS) traded up $0.21 during mid-day trading on Wednesday, hitting $52.76. The stock had a trading volume of 1,480,000 shares, compared to its average volume of 2,690,000. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.15 and a quick ratio of 6.77. EXACT Sciences Co. has a 1-year low of $19.91 and a 1-year high of $63.60. The stock has a market capitalization of $6,320.00, a price-to-earnings ratio of -25.86 and a beta of 0.71.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Thursday, February 22nd. The medical research company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.09. EXACT Sciences had a negative return on equity of 24.13% and a negative net margin of 43.01%. The firm had revenue of $87.41 million during the quarter, compared to the consensus estimate of $87.42 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s revenue was up 148.0% compared to the same quarter last year. equities analysts expect that EXACT Sciences Co. will post -0.84 earnings per share for the current year.
In related news, COO Maneesh Arora sold 5,295 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $52.19, for a total transaction of $276,346.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin T. Conroy sold 123,512 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $52.58, for a total value of $6,494,260.96. Following the sale, the insider now owns 953,564 shares of the company’s stock, valued at $50,138,395.12. The disclosure for this sale can be found here. Insiders sold 573,050 shares of company stock valued at $28,372,929 over the last three months. 4.00% of the stock is currently owned by corporate insiders.
EXAS has been the subject of several analyst reports. Leerink Swann set a $67.00 target price on shares of EXACT Sciences and gave the stock a “buy” rating in a report on Friday, February 9th. BidaskClub lowered shares of EXACT Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Bank of America raised their target price on shares of EXACT Sciences from $58.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Benchmark set a $65.00 target price on shares of EXACT Sciences and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $52.84.
EXACT Sciences Company Profile
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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