Artemis Investment Management LLP Purchases 149,067 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Artemis Investment Management LLP grew its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 139.6% in the fourth quarter, Holdings Channel reports. The fund owned 255,842 shares of the medical research company’s stock after buying an additional 149,067 shares during the quarter. Artemis Investment Management LLP’s holdings in Exact Sciences were worth $14,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXAS. Huntington National Bank lifted its holdings in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Exact Sciences during the 2nd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in Exact Sciences in the 3rd quarter worth $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the third quarter worth about $35,000. Finally, Modus Advisors LLC acquired a new stake in Exact Sciences during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 2.6 %

Shares of EXAS opened at $51.74 on Monday. The company’s 50-day simple moving average is $57.15 and its 200-day simple moving average is $59.26. The stock has a market capitalization of $9.58 billion, a PE ratio of -44.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts forecast that Exact Sciences Co. will post -1.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EXAS shares. Piper Sandler cut their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Robert W. Baird decreased their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group raised their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus reduced their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, BTIG Research raised their target price on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.94.

Insider Buying and Selling

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, with a total value 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. The trade was a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.36% of the company’s stock.

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.