Legacy Financial Advisors Inc. Makes New $617,000 Investment in Exact Sciences Corporation $EXAS

Key Points

• Legacy Financial Advisors Inc. acquired a new stake in Exact Sciences Corporation, purchasing 14,245 shares valued at approximately $617,000 during the first quarter.
• Exact Sciences reported a profit of $0.22 per share, significantly surpassing analyst expectations, alongside revenue of $811.09 million, marking a 16.0% increase year-over-year.
• Multiple research analysts have adjusted their price targets for Exact Sciences, with Barclays lowering their target from $65 to $55 while maintaining an "overweight" rating.

Legacy Financial Advisors Inc. bought a new stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,245 shares of the medical research company's stock, valued at approximately $617,000.

Several other institutional investors also recently bought and sold shares of the business. OneDigital Investment Advisors LLC raised its holdings in Exact Sciences by 0.3% in 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 acquiring an additional 270 shares during the last quarter. National Pension Service increased its holdings in shares of Exact Sciences by 75.1% during 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 during the last quarter. Allworth Financial LP increased its holdings in shares of Exact Sciences by 14.3% during the 1st quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock worth $136,000 after buying an additional 373 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Exact Sciences by 5.7% during the 1st quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after buying an additional 379 shares during the last quarter. Finally, Bayforest Capital Ltd increased its holdings in shares of Exact Sciences by 95.8% during the 1st quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company's stock worth $40,000 after buying an additional 453 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the transaction, the director owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the transaction, the director directly owned 59,962 shares in the company, valued at $2,519,603.24. This represents a 2.42% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Exact Sciences Stock Performance

NASDAQ EXAS traded down $1.1250 during trading hours on Monday, reaching $46.3450. The company's stock had a trading volume of 494,933 shares, compared to its average volume of 2,780,039. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The business has a 50-day simple moving average of $49.57 and a 200 day simple moving average of $49.27. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $72.83. The stock has a market cap of $8.77 billion, a PE ratio of -8.55, a PEG ratio of 4.85 and a beta of 0.93.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued 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. The firm had revenue of $811.09 million for the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. Exact Sciences's revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. Equities research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EXAS shares. Evercore ISI lowered their price target on Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada lowered their price target on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Robert W. Baird increased their price target on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen upgraded Exact Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Piper Sandler decreased their price objective 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 research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.43.

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.