Exact Sciences Corporation $EXAS Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has decreased its stake in Exact Sciences Corporation ($EXAS) by 0.9%, selling 10,342 shares and retaining approximately 1,136,929 shares valued at $49.2 million.
• Exact Sciences reported quarterly earnings of $0.22 per share, surpassing analyst expectations, and had a revenue of $811.09 million, an increase of 16.0% year-over-year.
• Several institutional investors have also adjusted their positions in Exact Sciences, with Aberdeen Group plc increasing its holdings by 180.0% during the same quarter.

Northern Trust Corp lowered its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,136,929 shares of the medical research company's stock after selling 10,342 shares during the period. Northern Trust Corp owned approximately 0.60% of Exact Sciences worth $49,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG grew its position in Exact Sciences by 1.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company's stock worth $7,250,000 after purchasing an additional 1,547 shares during the period. Dimensional Fund Advisors LP grew its position in Exact Sciences by 20.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 969,185 shares of the medical research company's stock worth $54,461,000 after purchasing an additional 165,809 shares during the period. The Manufacturers Life Insurance Company grew its position in Exact Sciences by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 138,086 shares of the medical research company's stock worth $7,759,000 after purchasing an additional 1,494 shares during the period. Lido Advisors LLC grew its position in Exact Sciences by 351.5% in the 4th quarter. Lido Advisors LLC now owns 24,112 shares of the medical research company's stock worth $1,355,000 after purchasing an additional 18,772 shares during the period. Finally, AQR Capital Management LLC grew its position in Exact Sciences by 132.6% in the 4th quarter. AQR Capital Management LLC now owns 592,385 shares of the medical research company's stock worth $33,286,000 after purchasing an additional 337,727 shares during the period. Institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Up 1.2%

Shares of NASDAQ EXAS traded up $0.59 during midday trading on Tuesday, reaching $48.01. 2,315,802 shares of the company's stock traded hands, compared to its average volume of 3,867,712. 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 stock's 50 day simple moving average is $48.79 and its 200-day simple moving average is $49.08. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.83. The company has a market cap of $9.09 billion, a price-to-earnings ratio of -8.84, a P/E/G ratio of 4.85 and a beta of 1.05.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly 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 business had revenue of $811.09 million during 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%. The business's quarterly 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. On average, analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of recent research reports. Piper Sandler cut 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. Royal Bank Of Canada lowered their target price 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. Evercore ISI lowered their target price on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Barclays lowered their target price on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Cowen reiterated a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and an average target price of $67.05.

About Exact Sciences

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.