Belpointe Asset Management LLC Has $2.26 Million Stake in Exact Sciences Corporation $EXAS

Key Points

• Belpointe Asset Management LLC reduced its stake in Exact Sciences Corporation by 15.4%, holding 52,235 shares valued at approximately $2.26 million after selling 9,525 shares in the first quarter.
• The company recently reported a quarterly EPS of $0.22, exceeding analyst expectations, with a revenue increase of 16% compared to the same quarter last year.
• Exact Sciences has experienced adjustments in target prices, with UBS Group and Barclays lowering their targets, while other analysts maintain positive ratings, indicating an average rating of "Moderate Buy" with a consensus target price of $67.05.

Belpointe Asset Management LLC trimmed its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,235 shares of the medical research company's stock after selling 9,525 shares during the period. Belpointe Asset Management LLC's holdings in Exact Sciences were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after acquiring an additional 589 shares during the last quarter. National Pension Service lifted its holdings in shares of Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Exact Sciences during the 1st quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences during the 1st quarter worth $34,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Exact Sciences during the 1st quarter worth $34,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the transaction, the director directly owned 59,962 shares of the company's stock, valued at $2,519,603.24. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Evercore ISI decreased their price objective on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Exact Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Royal Bank Of Canada decreased their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 7th. Craig Hallum boosted their price objective on shares of Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Finally, BTIG Research decreased their price objective on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.05.

Exact Sciences Price Performance

Exact Sciences stock traded down $0.34 on Tuesday, reaching $53.09. The company's stock had a trading volume of 648,778 shares, compared to its average volume of 2,794,395. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83. The company has a market cap of $10.05 billion, a price-to-earnings ratio of -9.77, a PEG ratio of 4.98 and a beta of 1.05. The business's fifty day moving average price is $48.88 and its 200 day moving average price is $49.34.

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

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.