Exact Sciences Co. (NASDAQ:EXAS) Director Katherine S. Zanotti Sells 3,207 Shares

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) Director Katherine S. Zanotti sold 3,207 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the completion of the transaction, the director now directly owns 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Exact Sciences Stock Down 0.4%

Shares of NASDAQ:EXAS traded down $0.22 during midday trading on Monday, reaching $53.30. 2,819,782 shares of the company were exchanged, compared to its average volume of 2,601,317. The firm has a market cap of $10.05 billion, a PE ratio of -9.57 and a beta of 0.98. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The stock has a fifty day simple moving average of $50.99 and a two-hundred day simple moving average of $52.04. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.16. The firm had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.60) EPS. As a group, sell-side analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXAS. Scotiabank raised their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a report on Monday, February 24th. Piper Sandler lowered their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Robert W. Baird upped their price target on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Guggenheim reiterated a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Finally, Royal Bank of Canada boosted their price objective on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.90.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Exact Sciences by 74.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock worth $323,669,000 after buying an additional 2,462,165 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Exact Sciences by 120.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company's stock valued at $135,453,000 after purchasing an additional 1,707,287 shares during the last quarter. Capital World Investors boosted its position in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after purchasing an additional 1,696,321 shares during the last quarter. Mackenzie Financial Corp grew its stake in Exact Sciences by 107.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after purchasing an additional 1,513,873 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Exact Sciences during the 1st quarter worth approximately $45,334,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.

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