25,000 Shares in Exact Sciences Corporation $EXAS Acquired by Waycross Partners LLC

Key Points

• Waycross Partners LLC has acquired 25,000 shares of Exact Sciences Corporation, valued at approximately $1.33 million, marking a new position for the firm.
• Exact Sciences reported a Q2 profit of $0.22 EPS, exceeding analysts' expectations and achieving a 16% revenue increase year-over-year.
• Institutional investors currently hold 88.82% of Exact Sciences' stock, reflecting strong institutional interest in the company.

Waycross Partners LLC bought a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,000 shares of the medical research company's stock, valued at approximately $1,328,000.

A number of other large investors have also recently added to or reduced their stakes in EXAS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 worth $135,453,000 after buying an additional 1,707,287 shares in the last quarter. Nuveen LLC bought a new stake in Exact Sciences during the first quarter worth approximately $45,334,000. Price T Rowe Associates Inc. MD boosted its holdings in Exact Sciences by 11.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company's stock worth $277,225,000 after buying an additional 643,631 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Exact Sciences by 3.6% during the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock worth $763,535,000 after buying an additional 617,384 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in Exact Sciences during the first quarter worth approximately $20,803,000. 88.82% of the stock is currently owned by institutional investors.

Insider Transactions at Exact Sciences

In related news, Director James Edward Doyle sold 1,485 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the transaction, the director directly owned 59,962 shares in the company, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.20% of the company's stock.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $52.41 on Wednesday. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83. The firm's fifty day simple moving average is $48.82 and its 200 day simple moving average is $49.56. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $9.92 billion, a PE ratio of -9.65, a PEG ratio of 4.94 and a beta of 1.05.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. During the same period last year, the business posted ($0.09) EPS. Exact Sciences's revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EXAS shares. Barclays reduced their target price on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Exact Sciences in a research report on Thursday, August 7th. BTIG Research reduced their price target on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Evercore ISI reduced their price target on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Zacks Research downgraded shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.05.

Exact Sciences Company 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.

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