Exact Sciences Corporation (NASDAQ:EXAS) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its holdings in Exact Sciences by 29.5%, owning 214,469 shares after selling 89,912 shares in the first quarter.
• Institutional investors now hold 88.82% of Exact Sciences' stock, with other notable investors increasing their positions during the fourth quarter.
• Several analysts have recently boosted price targets for Exact Sciences, with a consensus target price of $70.50 and a rating of "Moderate Buy."

Blair William & Co. IL reduced its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 29.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,469 shares of the medical research company's stock after selling 89,912 shares during the period. Blair William & Co. IL owned about 0.11% of Exact Sciences worth $9,284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC raised its position in shares of Exact Sciences by 0.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock valued at $4,367,000 after buying an additional 270 shares during the period. Allworth Financial LP increased its stake in Exact Sciences by 14.3% during the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock worth $136,000 after acquiring an additional 373 shares during the last quarter. Integrated Advisors Network LLC raised its position in Exact Sciences by 5.7% in the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock valued at $305,000 after purchasing an additional 379 shares during the period. Curi RMB Capital LLC raised its position in Exact Sciences by 1.7% in the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company's stock valued at $1,399,000 after purchasing an additional 428 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in shares of Exact Sciences by 95.8% in the 1st quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company's stock valued at $40,000 after purchasing an additional 453 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of recent analyst reports. Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Evercore ISI lowered their target price on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a research note on Friday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $46.00 price target (down from $54.00) on shares of Exact Sciences in a research note on Thursday. UBS Group decreased their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Mizuho assumed coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and an average price target of $68.62.

Exact Sciences Price Performance

Shares of EXAS traded down $2.17 during mid-day trading on Friday, hitting $40.99. The company's stock had a trading volume of 6,210,297 shares, compared to its average volume of 3,127,436. The company has a current ratio of 2.89, a quick ratio of 2.38 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.83. The firm has a market capitalization of $7.76 billion, a P/E ratio of -7.55, a P/E/G ratio of 9.22 and a beta of 0.93. The firm has a 50-day simple moving average of $51.55 and a 200 day simple moving average of $50.07.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly 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. The business had revenue of $811.09 million during the quarter, compared to the consensus estimate 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 was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS. Analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences stock in a transaction on 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 directly owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company 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.