Exact Sciences Corporation (NASDAQ:EXAS) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 567,506 shares of the medical research company's stock after selling 377,455 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.31% of Exact Sciences worth $24,567,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EXAS. Jones Financial Companies Lllp boosted its position in Exact Sciences by 32.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company's stock worth $534,000 after acquiring an additional 2,315 shares during the last quarter. Merit Financial Group LLC lifted its stake 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 worth $381,000 after purchasing an additional 4,609 shares during the period. AlphaQuest LLC boosted its holdings in shares of Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after purchasing an additional 913 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Exact Sciences by 309.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 72,882 shares of the medical research company's stock worth $3,155,000 after purchasing an additional 55,063 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Exact Sciences by 1.8% in the first quarter. Rhumbline Advisers now owns 221,301 shares of the medical research company's stock valued at $9,580,000 after purchasing an additional 3,873 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Insider Transactions at Exact Sciences

In other 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 transaction of $170,612.40. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXAS has been the topic of several recent analyst reports. Royal Bank Of Canada increased their target price on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Barclays dropped their price objective on shares of Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, June 24th. Mizuho assumed coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 target price on the stock. Robert W. Baird upped their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Evercore ISI increased their price target on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and a consensus target price of $70.40.

Exact Sciences Stock Down 1.9%

NASDAQ EXAS traded down $1.05 during trading hours on Friday, hitting $52.82. The company had a trading volume of 1,668,708 shares, compared to its average volume of 2,579,990. The firm's 50 day moving average is $53.73 and its 200 day moving average is $51.23. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38. Exact Sciences Corporation has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of -9.59, a P/E/G ratio of 11.39 and a beta of 0.95.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The company's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.60) earnings per share. Sell-side analysts anticipate 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.