Beacon Investment Advisory Services Inc. Sells 8,916 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Beacon Investment Advisory Services Inc. reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 20.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,985 shares of the medical research company’s stock after selling 8,916 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Exact Sciences were worth $2,315,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EXAS. Huntington National Bank lifted its position in shares of Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Exact Sciences in the second quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in Exact Sciences in the third quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences in the third quarter worth about $35,000. Finally, Vestor Capital LLC bought a new stake in Exact Sciences in the third quarter worth about $46,000. 88.82% of the stock is owned by institutional investors.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Exact Sciences Price Performance

EXAS stock opened at $61.69 on Tuesday. The stock has a market cap of $11.42 billion, a PE ratio of -52.73 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The firm has a 50 day simple moving average of $63.85 and a two-hundred day simple moving average of $56.05.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Analyst Ratings Changes

EXAS has been the topic of several research reports. Piper Sandler lowered their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Canaccord Genuity Group lowered their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum lowered their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, BTIG Research lifted their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.29.

Exact Sciences 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.