Victory Capital Management Inc. cut its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 17.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 980,924 shares of the medical research company’s stock after selling 214,015 shares during the period. Victory Capital Management Inc. owned 0.80% of EXACT Sciences worth $77,415,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of EXAS. Dimensional Fund Advisors LP lifted its holdings in shares of EXACT Sciences by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 242,736 shares of the medical research company’s stock valued at $9,790,000 after purchasing an additional 17,783 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of EXACT Sciences by 7.9% during the first quarter. Principal Financial Group Inc. now owns 187,778 shares of the medical research company’s stock valued at $7,573,000 after purchasing an additional 13,799 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of EXACT Sciences by 707.4% during the second quarter. Fisher Asset Management LLC now owns 55,621 shares of the medical research company’s stock valued at $3,326,000 after purchasing an additional 48,732 shares during the last quarter. KAMES CAPITAL plc purchased a new position in shares of EXACT Sciences during the second quarter valued at approximately $46,879,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of EXACT Sciences during the second quarter valued at approximately $869,000. Institutional investors and hedge funds own 87.06% of the company’s stock.
Shares of NASDAQ EXAS opened at $74.20 on Monday. EXACT Sciences Co. has a twelve month low of $37.36 and a twelve month high of $81.22. The company has a market capitalization of $9.12 billion, a P/E ratio of -74.95 and a beta of 1.21. The company has a quick ratio of 11.72, a current ratio of 12.08 and a debt-to-equity ratio of 0.94.
EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. The company had revenue of $118.29 million during the quarter, compared to analyst estimates of $109.33 million. During the same period in the previous year, the business earned ($0.23) EPS. The firm’s revenue for the quarter was up 63.0% on a year-over-year basis. Sell-side analysts expect that EXACT Sciences Co. will post -1.53 earnings per share for the current fiscal year.
In other EXACT Sciences news, insider D Scott Coward sold 2,190 shares of EXACT Sciences stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.51, for a total value of $174,126.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Graham Peter Lidgard sold 79,673 shares of EXACT Sciences stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $71.73, for a total transaction of $5,714,944.29. Following the completion of the sale, the insider now directly owns 124,528 shares of the company’s stock, valued at approximately $8,932,393.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,331 shares of company stock valued at $10,096,681. 3.20% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on EXAS shares. Canaccord Genuity reiterated a “buy” rating and set a $65.00 target price (up from $62.00) on shares of EXACT Sciences in a report on Monday, August 13th. Bank of America lifted their target price on shares of EXACT Sciences from $67.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Jefferies Financial Group decreased their price objective on shares of EXACT Sciences from $60.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Craig Hallum decreased their price objective on shares of EXACT Sciences from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Finally, BTIG Research boosted their price objective on shares of EXACT Sciences to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $84.08.
EXACT Sciences Company 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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