Exact Sciences Corporation $EXAS Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lessened its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,765 shares of the medical research company’s stock after selling 6,347 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.09% of Exact Sciences worth $8,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. National Pension Service boosted its position in shares of Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after purchasing an additional 292 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Exact Sciences in the first quarter valued at about $30,000. True Wealth Design LLC boosted its holdings in Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after buying an additional 533 shares in the last quarter. Country Trust Bank acquired a new position in Exact Sciences during the second quarter worth about $32,000. Finally, Bessemer Group Inc. increased its holdings in Exact Sciences by 1,980.6% in the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after buying an additional 614 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Up 0.1%

Shares of NASDAQ:EXAS opened at $101.50 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $19.23 billion, a P/E ratio of -19.08, a P/E/G ratio of 12.52 and a beta of 1.42. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $101.95. The stock’s fifty day simple moving average is $77.03 and its 200-day simple moving average is $60.26.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) EPS. As a group, equities research analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EXAS. Craig Hallum cut Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a report on Friday, November 21st. Guggenheim lowered Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. Robert W. Baird set a $105.00 price target on Exact Sciences in a research report on Thursday, November 20th. Wall Street Zen lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, BTIG Research cut shares of Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Exact Sciences has a consensus rating of “Hold” and an average price target of $85.00.

Insiders Place Their Bets

In other news, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the sale, the executive vice president owned 23,237 shares of the company’s stock, valued at $1,742,775. The trade was a 17.71% 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, EVP Brian Baranick sold 2,858 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the transaction, the executive vice president owned 22,368 shares in the company, valued at $1,567,549.44. This trade represents a 11.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 9,858 shares of company stock valued at $695,289. Company insiders own 1.20% 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.