RMG Wealth Management LLC Invests $223,000 in Exact Sciences Corporation $EXAS

RMG Wealth Management LLC purchased a new stake in Exact Sciences Corporation (NASDAQ:EXAS) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,316 shares of the medical research company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Exact Sciences by 2,804.8% during the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 589 shares in the last quarter. National Pension Service increased its stake in shares of Exact Sciences by 75.1% during the first 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 position in shares of Exact Sciences during the 1st quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exact Sciences in the 1st quarter valued at about $34,000. Finally, Banque Cantonale Vaudoise purchased a new position in Exact Sciences in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 1.6%

Shares of NASDAQ:EXAS opened at $57.63 on Tuesday. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $72.83. The stock has a market cap of $10.91 billion, a P/E ratio of -10.61, a PEG ratio of 5.24 and a beta of 1.24. The business has a fifty day moving average of $49.76 and a two-hundred day moving average of $50.21. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.24. The business had revenue of $811.09 million during the quarter, compared to analysts’ expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. On average, research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

EXAS has been the subject of several research reports. Piper Sandler cut their price objective on Exact Sciences from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, August 11th. BTIG Research lowered their price target on Exact Sciences from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen upgraded Exact Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. UBS Group decreased their price objective on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Cowen reaffirmed a “buy” rating on shares of Exact Sciences in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.52.

Insider Transactions at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of Exact Sciences stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total value of $62,399.70. Following the sale, the director owned 59,962 shares in the company, valued at $2,519,603.24. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

About Exact Sciences

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.