Exact Sciences Corporation $EXAS Shares Sold by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC reduced its holdings in Exact Sciences Corporation by 19.5%, selling 4,947 shares, which now values their remaining shares at approximately $1,083,000.
• Exact Sciences reported a better-than-expected quarterly earnings of $0.22 EPS, surpassing analysts' estimates of ($0.02), with revenue of $811.09 million during the quarter, up 16% year-over-year.
• Analysts have mixed ratings for Exact Sciences, with a consensus target price of $68.05, including one Strong Buy, nineteen Buy, and three Hold ratings.

Park Avenue Securities LLC lowered its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 19.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,388 shares of the medical research company's stock after selling 4,947 shares during the quarter. Park Avenue Securities LLC's holdings in Exact Sciences were worth $1,083,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EXAS. Larson Financial Group LLC lifted its holdings in Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after buying an additional 589 shares in the last quarter. National Pension Service lifted its holdings in Exact Sciences by 75.1% in the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after buying an additional 292 shares in the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences in the 1st quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences in the 1st quarter worth $34,000. Finally, Banque Cantonale Vaudoise acquired a new position in Exact Sciences in the 1st quarter worth $34,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $53.57 on Friday. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83. The firm has a 50-day simple moving average of $48.90 and a 200 day simple moving average of $49.69. The company has a market cap of $10.14 billion, a PE ratio of -9.87, a P/E/G ratio of 4.96 and a beta of 1.05.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical research company reported $0.22 earnings per share 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 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 for the quarter 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.

Insider Buying and Selling at Exact Sciences

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

Wall Street Analysts Forecast Growth

EXAS has been the topic of a number of recent analyst reports. Craig Hallum boosted their price objective 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. 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 research report on Thursday, August 7th. UBS Group dropped their target price on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Piper Sandler dropped their target price on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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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