Thompson Investment Management Inc. reduced its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,661 shares of the medical research company’s stock after selling 26,578 shares during the period. Exact Sciences Corporation comprises 2.4% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 4th largest holding. Thompson Investment Management Inc. owned approximately 0.23% of Exact Sciences Corporation worth $12,848,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in EXAS. BlackRock Inc. grew its holdings in shares of Exact Sciences Corporation by 45,816.0% during the first quarter. BlackRock Inc. now owns 6,804,297 shares of the medical research company’s stock worth $160,718,000 after purchasing an additional 6,789,478 shares during the last quarter. Fred Alger Management Inc. bought a new stake in shares of Exact Sciences Corporation during the second quarter worth about $84,177,000. Lord Abbett & CO. LLC grew its holdings in shares of Exact Sciences Corporation by 59.1% during the second quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock worth $83,357,000 after purchasing an additional 875,527 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Exact Sciences Corporation during the second quarter worth about $29,450,000. Finally, Vanguard Group Inc. grew its holdings in shares of Exact Sciences Corporation by 8.0% during the second quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock worth $334,589,000 after purchasing an additional 700,051 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.
In other news, CEO Kevin T. Conroy sold 137,805 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $59.14, for a total transaction of $8,149,787.70. Following the transaction, the chief executive officer now directly owns 967,867 shares of the company’s stock, valued at $57,239,654.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Graham Peter Lidgard sold 75,683 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $40.81, for a total value of $3,088,623.23. Following the transaction, the insider now directly owns 308,377 shares in the company, valued at $12,584,865.37. The disclosure for this sale can be found here. Insiders have sold a total of 415,178 shares of company stock worth $20,785,358 over the last 90 days. Company insiders own 4.00% of the company’s stock.
EXAS has been the topic of several analyst reports. Canaccord Genuity upgraded Exact Sciences Corporation to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, October 31st. Leerink Swann set a $45.00 target price on Exact Sciences Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Roth Capital upped their target price on Exact Sciences Corporation from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Robert W. Baird upped their target price on Exact Sciences Corporation from $49.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Finally, Vetr upgraded Exact Sciences Corporation from a “sell” rating to a “hold” rating and set a $36.55 target price on the stock in a report on Tuesday, July 25th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Exact Sciences Corporation currently has an average rating of “Buy” and a consensus target price of $49.98.
Exact Sciences Corporation (NASDAQ:EXAS) traded up $1.05 during trading on Thursday, hitting $58.47. The company’s stock had a trading volume of 454,703 shares, compared to its average volume of 2,546,570. Exact Sciences Corporation has a 52-week low of $13.05 and a 52-week high of $63.60. The company has a current ratio of 10.34, a quick ratio of 9.98 and a debt-to-equity ratio of 0.01.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The firm had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $65.03 million. Exact Sciences Corporation had a negative return on equity of 30.32% and a negative net margin of 60.71%. The company’s revenue for the quarter was up 158.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.36) EPS. sell-side analysts forecast that Exact Sciences Corporation will post -1.14 EPS for the current year.
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Exact Sciences Corporation 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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