Riverhead Capital Management LLC grew its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 16.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 41,000 shares of the medical research company’s stock after acquiring an additional 5,900 shares during the period. Riverhead Capital Management LLC’s holdings in EXACT Sciences were worth $1,654,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. raised its stake in shares of EXACT Sciences by 5.0% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 44,361 shares of the medical research company’s stock valued at $2,330,000 after acquiring an additional 2,100 shares during the period. Teachers Advisors LLC raised its stake in shares of EXACT Sciences by 1.1% in the 4th quarter. Teachers Advisors LLC now owns 212,440 shares of the medical research company’s stock valued at $11,162,000 after acquiring an additional 2,294 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of EXACT Sciences in the 4th quarter valued at approximately $2,855,000. Emerald Advisers Inc. PA purchased a new stake in shares of EXACT Sciences in the 4th quarter valued at approximately $21,813,000. Finally, Swiss National Bank raised its stake in shares of EXACT Sciences by 3.1% in the 4th quarter. Swiss National Bank now owns 202,819 shares of the medical research company’s stock valued at $10,656,000 after acquiring an additional 6,100 shares during the period. 82.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of EXACT Sciences opened at $52.36 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.71, a current ratio of 15.30 and a quick ratio of 14.86. EXACT Sciences Co. has a fifty-two week low of $30.17 and a fifty-two week high of $63.60.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Thursday, April 26th. The medical research company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. EXACT Sciences had a negative net margin of 38.61% and a negative return on equity of 20.92%. The company had revenue of $90.30 million during the quarter, compared to analysts’ expectations of $86.31 million. During the same quarter in the previous year, the business posted ($0.32) EPS. The firm’s revenue was up 86.7% on a year-over-year basis. sell-side analysts predict that EXACT Sciences Co. will post -1.11 EPS for the current year.
In other EXACT Sciences news, Director Thomas D. Carey sold 8,448 shares of the business’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $39.73, for a total transaction of $335,639.04. Following the completion of the transaction, the director now owns 52,610 shares in the company, valued at approximately $2,090,195.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael S. Wyzga sold 7,402 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $51.53, for a total transaction of $381,425.06. Following the transaction, the director now owns 10,974 shares of the company’s stock, valued at approximately $565,490.22. The disclosure for this sale can be found here. Insiders have sold a total of 135,748 shares of company stock valued at $6,082,759 in the last quarter. 4.00% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. BTIG Research reissued a “buy” rating and issued a $60.00 price target on shares of EXACT Sciences in a research note on Sunday, April 29th. Leerink Swann set a $67.00 price target on shares of EXACT Sciences and gave the company a “buy” rating in a research note on Friday, February 9th. Benchmark cut shares of EXACT Sciences from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Goldman Sachs began coverage on shares of EXACT Sciences in a report on Monday, January 29th. They issued a “neutral” rating and a $51.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. EXACT Sciences has a consensus rating of “Buy” and a consensus target price of $53.84.
EXACT Sciences Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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