Patten & Patten Inc. TN Has $1.04 Million Stake in Exact Sciences Corporation (NASDAQ:EXAS)

Patten & Patten Inc. TN lowered its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 8.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,998 shares of the medical research company’s stock after selling 2,155 shares during the period. Patten & Patten Inc. TN’s holdings in Exact Sciences were worth $1,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Exact Sciences during the first quarter valued at $149,000. Mackenzie Financial Corp increased its holdings in Exact Sciences by 12.4% in the first quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company’s stock valued at $142,062,000 after purchasing an additional 362,314 shares during the period. Cetera Investment Advisers raised its position in Exact Sciences by 6.8% during the 1st quarter. Cetera Investment Advisers now owns 88,233 shares of the medical research company’s stock worth $3,820,000 after purchasing an additional 5,596 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in Exact Sciences by 23.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,588 shares of the medical research company’s stock worth $285,000 after buying an additional 1,259 shares during the period. Finally, Private Advisor Group LLC grew its position in shares of Exact Sciences by 39.2% in the 1st quarter. Private Advisor Group LLC now owns 31,742 shares of the medical research company’s stock valued at $1,374,000 after buying an additional 8,946 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Trading Down 0.9%

NASDAQ:EXAS opened at $48.04 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38. Exact Sciences Corporation has a one year low of $39.97 and a one year high of $72.83. The company has a market cap of $9.06 billion, a PE ratio of -8.72, a PEG ratio of 10.35 and a beta of 0.95. The firm has a 50-day moving average of $53.54 and a 200-day moving average of $50.49.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16. The firm had revenue of $706.79 million during the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.60) EPS. As a group, equities research analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXAS. Evercore ISI lifted their price objective on Exact Sciences from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Barclays lowered their target price on shares of Exact Sciences from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, June 24th. Finally, Robert W. Baird upped their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.50.

Insider Activity

In related news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the sale, the director directly owned 72,759 shares of the company’s stock, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

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.