Exact Sciences (NASDAQ:EXAS) Lowered to “Hold” Rating by Mizuho

Mizuho lowered shares of Exact Sciences (NASDAQ:EXAS) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $105.00 price objective (up previously from $85.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Baird R W downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. TD Cowen downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Zacks Research upgraded shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $105.00 price objective (up previously from $80.00) on shares of Exact Sciences in a research note on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Exact Sciences presently has an average rating of “Hold” and an average price target of $89.56.

Exact Sciences Price Performance

Exact Sciences stock opened at $102.35 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. The stock has a market cap of $19.53 billion, a price-to-earnings ratio of -19.24, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The firm has a 50-day moving average of $97.93 and a two-hundred day moving average of $69.40. Exact Sciences has a 1 year low of $38.81 and a 1 year high of $102.66.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.13 by $0.11. The company had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.Exact Sciences’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the business posted ($0.21) EPS. On average, research analysts forecast that Exact Sciences will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the completion of the sale, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jacob A. Orville sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the executive vice president directly owned 23,237 shares in the company, valued at $1,742,775. This trade represents a 17.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its holdings in Exact Sciences by 951.8% in the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 533 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Exact Sciences by 100.0% during the third quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after acquiring an additional 271 shares during the period. Country Trust Bank acquired a new stake in Exact Sciences during the second quarter worth about $32,000. Bessemer Group Inc. raised its position in Exact Sciences by 1,980.6% during the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 614 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Exact Sciences by 120.1% in the second quarter. Parallel Advisors LLC now owns 799 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 436 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.