Macquarie Group Ltd. trimmed its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 847,807 shares of the medical research company’s stock after selling 53,242 shares during the quarter. Macquarie Group Ltd. owned about 0.71% of EXACT Sciences worth $39,949,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Fortaleza Asset Management Inc. acquired a new stake in EXACT Sciences in the 2nd quarter valued at approximately $106,000. Krilogy Financial LLC boosted its stake in EXACT Sciences by 1,460.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock valued at $138,000 after purchasing an additional 3,650 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in EXACT Sciences by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock valued at $144,000 after purchasing an additional 600 shares in the last quarter. Financial Architects Inc boosted its stake in EXACT Sciences by 90.0% during the 2nd quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock valued at $152,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in EXACT Sciences by 25.9% during the 2nd quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock valued at $172,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.
In other news, SVP D Scott Coward sold 29,115 shares of EXACT Sciences stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $1,373,063.40. Following the completion of the transaction, the senior vice president now owns 64,991 shares in the company, valued at $3,064,975.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin T. Conroy sold 137,805 shares of EXACT Sciences stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $59.14, for a total transaction of $8,149,787.70. Following the completion of the transaction, the chief executive officer now owns 967,867 shares of the company’s stock, valued at approximately $57,239,654.38. The disclosure for this sale can be found here. Insiders have sold 473,547 shares of company stock worth $26,440,940 over the last ninety days. Company insiders own 4.00% of the company’s stock.
Shares of EXACT Sciences Co. (NASDAQ EXAS) traded up $0.71 during trading hours on Thursday, hitting $54.44. The stock had a trading volume of 1,395,173 shares, compared to its average volume of 2,466,347. EXACT Sciences Co. has a 12 month low of $13.05 and a 12 month high of $63.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The business had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The firm’s revenue for the quarter was up 158.4% compared to the same quarter last year. During the same period last year, the business earned ($0.36) earnings per share. sell-side analysts predict that EXACT Sciences Co. will post -1.12 earnings per share for the current year.
A number of brokerages have issued reports on EXAS. Leerink Swann reaffirmed an “outperform” rating and set a $50.00 price target (up from $45.00) on shares of EXACT Sciences in a research note on Thursday, September 21st. Canaccord Genuity reissued a “buy” rating and set a $60.00 price objective (up from $45.00) on shares of EXACT Sciences in a research note on Tuesday, October 3rd. BidaskClub raised EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Zacks Investment Research raised EXACT Sciences from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Tuesday, September 26th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $49.00 target price on shares of EXACT Sciences in a research report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $50.58.
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EXACT Sciences 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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