Blair William & Co. IL Sells 22,988 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Blair William & Co. IL trimmed its position in Exact Sciences Co. (NASDAQ:EXAS) by 6.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 346,869 shares of the medical research company’s stock after selling 22,988 shares during the period. Blair William & Co. IL’s holdings in Exact Sciences were worth $23,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXAS. Vanguard Group Inc. grew its holdings in Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after acquiring an additional 115,058 shares during the last quarter. Capital World Investors boosted its holdings in shares of Exact Sciences by 7.8% during the fourth quarter. Capital World Investors now owns 7,468,145 shares of the medical research company’s stock worth $552,493,000 after purchasing an additional 539,498 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Exact Sciences by 12.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock worth $330,711,000 after purchasing an additional 508,764 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Exact Sciences by 11.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,858,380 shares of the medical research company’s stock valued at $137,483,000 after purchasing an additional 192,372 shares during the period. Finally, Norges Bank bought a new position in Exact Sciences during the 4th quarter valued at approximately $120,308,000. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EXAS shares. Jefferies Financial Group started coverage on Exact Sciences in a research report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective on the stock. Scotiabank initiated coverage on shares of Exact Sciences in a report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price target on the stock. Evercore ISI decreased their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. BTIG Research dropped their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.80.

Exact Sciences Stock Down 1.6 %

Shares of EXAS stock traded down $0.75 during mid-day trading on Friday, hitting $46.81. The company’s stock had a trading volume of 2,398,056 shares, compared to its average volume of 2,633,246. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of -36.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.64. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $99.56. The business has a 50-day moving average price of $46.21 and a 200 day moving average price of $57.80.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. The company had revenue of $637.52 million for the quarter, compared to the consensus estimate of $624.95 million. Research analysts predict that Exact Sciences Co. will post -1.15 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at $69,544,888.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 1,498 shares of company stock valued at $90,105. 1.36% of the stock is owned by company insiders.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.