Exact Sciences Corporation $EXAS Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Exact Sciences Corporation by 23.5%, now holding 163,987 shares valued at approximately $8.71 million.
• Vanguard Group raised its holdings by 3.6%, while UBS increased its position by 120.1% in the first quarter, indicating strong institutional interest in the company.
• Exact Sciences reported $0.22 earnings per share for the last quarter, exceeding analysts' predictions, with revenue rising by 16% year-over-year to $811.09 million.

Blair William & Co. IL cut its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 23.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 163,987 shares of the medical research company's stock after selling 50,482 shares during the period. Blair William & Co. IL owned 0.09% of Exact Sciences worth $8,714,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Exact Sciences by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock valued at $763,535,000 after acquiring an additional 617,384 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company's stock valued at $277,225,000 after buying an additional 643,631 shares during the last quarter. Mackenzie Financial Corp boosted its position in Exact Sciences by 12.4% in the 1st quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company's stock valued at $142,062,000 after buying an additional 362,314 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% in the 1st 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 buying an additional 1,707,287 shares during the last quarter. Finally, Armistice Capital LLC lifted its position in shares of Exact Sciences by 9.6% during the first quarter. Armistice Capital LLC now owns 1,772,369 shares of the medical research company's stock worth $76,726,000 after purchasing an additional 155,369 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on EXAS. Piper Sandler increased their price target on shares of Exact Sciences from $60.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada dropped their price target on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Exact Sciences in a report on Thursday, August 7th. Evercore ISI increased their price objective on shares of Exact Sciences from $64.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Craig Hallum raised their target price on shares of Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

Exact Sciences Stock Down 1.9%

EXAS stock opened at $58.34 on Friday. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $72.83. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The company has a market cap of $11.04 billion, a price-to-earnings ratio of -10.74, a PEG ratio of 5.39 and a beta of 1.24. The company has a 50 day moving average of $50.68 and a two-hundred day moving average of $50.54.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping 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 company 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 firm earned ($0.09) EPS. The company's revenue was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other news, Director James Edward Doyle sold 2,000 shares of the firm's stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the director owned 57,962 shares in the company, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

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.

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