HealthInvest Partners AB Takes $899,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

HealthInvest Partners AB acquired a new position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,157 shares of the medical research company's stock, valued at approximately $899,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of Exact Sciences in the 4th quarter worth approximately $30,000. Wolff Wiese Magana LLC grew its stake in shares of Exact Sciences by 459.5% in the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company's stock valued at $31,000 after buying an additional 340 shares in the last quarter. KB Financial Partners LLC purchased a new stake in shares of Exact Sciences in the 2nd quarter valued at $32,000. BluePath Capital Management LLC acquired a new position in Exact Sciences during the 3rd quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Exact Sciences during the 3rd quarter worth about $34,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

Shares of EXAS stock traded down $1.49 during mid-day trading on Tuesday, hitting $63.86. 3,472,045 shares of the stock were exchanged, compared to its average volume of 2,324,577. The stock's fifty day simple moving average is $63.33 and its two-hundred day simple moving average is $65.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32. Exact Sciences Co. has a 12-month low of $56.05 and a 12-month high of $100.77. The stock has a market capitalization of $11.59 billion, a price-to-earnings ratio of -57.05 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.53) by $0.26. The company had revenue of $646.89 million during the quarter, compared to analysts' expectations of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.72) earnings per share. On average, analysts forecast that Exact Sciences Co. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EXAS. Canaccord Genuity Group reduced their price target on shares of Exact Sciences from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, February 22nd. Citigroup restated a "buy" rating and issued a $100.00 price target on shares of Exact Sciences in a research note on Wednesday, April 3rd. TheStreet lowered Exact Sciences from a "c-" rating to a "d+" rating in a research report on Monday, February 26th. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 22nd. Finally, Benchmark raised Exact Sciences from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Exact Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.44.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy sold 14,791 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $908,611.13. Following the transaction, the chief executive officer now owns 1,224,357 shares of the company's stock, valued at $75,212,250.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Exact Sciences news, insider Jacob A. Orville sold 1,879 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total transaction of $106,896.31. Following the transaction, the insider now directly owns 11,754 shares in the company, valued at $668,685.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin T. Conroy sold 14,791 shares of Exact Sciences stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $908,611.13. Following the sale, the chief executive officer now owns 1,224,357 shares of the company's stock, valued at $75,212,250.51. The disclosure for this sale can be found here. Insiders sold a total of 69,113 shares of company stock valued at $4,165,273 in the last ninety days. Insiders own 1.30% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.