Exact Sciences Co. (NASDAQ:EXAS) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,986 shares of the medical research company’s stock after purchasing an additional 402 shares during the period. Intech Investment Management LLC’s holdings in Exact Sciences were worth $816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EXAS. Huntington National Bank lifted its holdings in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences during the third quarter worth about $35,000. Vestor Capital LLC acquired a new position in shares of Exact Sciences in the third quarter worth about $46,000. V Square Quantitative Management LLC purchased a new position in Exact Sciences in the third quarter valued at about $47,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Exact Sciences during the 2nd quarter valued at approximately $29,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was 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. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin T. Conroy purchased 19,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Craig Hallum cut their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. TD Cowen increased their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group boosted their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus cut their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Robert W. Baird decreased their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One research 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 presently has an average rating of “Moderate Buy” and an average price target of $75.29.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $61.69 on Friday. The firm’s 50 day moving average is $64.20 and its two-hundred day moving average is $55.93. The firm has a market capitalization of $11.42 billion, a P/E ratio of -52.73 and a beta of 1.27. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62.

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

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.