Champlain Investment Partners LLC Decreases Stock Holdings in Exact Sciences Corporation $EXAS

Key Points

• Champlain Investment Partners LLC reduced its stake in Exact Sciences Corporation by 7.8%, selling 190,310 shares and owning about 1.19% of the company valued at $97.27 million at the end of the first quarter.
• Multiple large investors increased their positions in Exact Sciences, including Larson Financial Group LLC, which grew its holdings by an impressive 2,804.8%.
• Analysts have set varying price targets for Exact Sciences, with UBS lowering their target from $61 to $53 while maintaining a "neutral" rating, indicating a cautious outlook on the stock.

Champlain Investment Partners LLC lessened its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,246,995 shares of the medical research company's stock after selling 190,310 shares during the quarter. Champlain Investment Partners LLC owned about 1.19% of Exact Sciences worth $97,272,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Exact Sciences during the 1st quarter valued at approximately $34,000. Cerity Partners LLC raised its position in shares of Exact Sciences by 24.0% during the 1st quarter. Cerity Partners LLC now owns 33,598 shares of the medical research company's stock valued at $1,454,000 after buying an additional 6,508 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Exact Sciences during the 1st quarter valued at approximately $1,171,000. GAMMA Investing LLC raised its position in shares of Exact Sciences by 15.5% during the 1st quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock valued at $184,000 after buying an additional 569 shares during the period. Finally, Merit Financial Group LLC raised its position in shares of Exact Sciences by 110.0% during the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock valued at $381,000 after buying an additional 4,609 shares during the period. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on EXAS. Piper Sandler reduced their price target on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, August 11th. Cowen reiterated a "buy" rating on shares of Exact Sciences in a report on Thursday, August 7th. Barclays dropped 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. Evercore ISI dropped their target price on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Royal Bank Of Canada dropped their target price on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Exact Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $67.05.

Exact Sciences Trading Up 1.0%

Exact Sciences stock traded up $0.47 during trading on Monday, hitting $47.42. The company had a trading volume of 3,318,545 shares, compared to its average volume of 4,013,430. The company's 50 day simple moving average is $48.95 and its 200-day simple moving average is $49.10. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of -8.73, a price-to-earnings-growth ratio of 4.85 and a beta of 1.05. The company has a current ratio of 2.89, a quick ratio of 2.56 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.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the transaction, the director owned 72,759 shares in the company, valued at $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction on 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 owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

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.