International Assets Investment Management LLC Takes Position in Exact Sciences Co. (NASDAQ:EXAS)

International Assets Investment Management LLC purchased a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 187,465 shares of the medical research company's stock, valued at approximately $138,690,000. Exact Sciences makes up approximately 0.4% of International Assets Investment Management LLC's portfolio, making the stock its 25th biggest position. International Assets Investment Management LLC owned about 0.10% of Exact Sciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Exact Sciences by 0.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 37,200 shares of the medical research company's stock worth $2,752,000 after purchasing an additional 205 shares during the last quarter. Fulton Bank N.A. lifted its position in shares of Exact Sciences by 7.4% during the 4th quarter. Fulton Bank N.A. now owns 5,731 shares of the medical research company's stock valued at $424,000 after buying an additional 396 shares in the last quarter. KRS Capital Management LLC purchased a new position in shares of Exact Sciences during the 4th quarter valued at about $277,000. Arizona State Retirement System lifted its position in shares of Exact Sciences by 0.9% during the 4th quarter. Arizona State Retirement System now owns 49,655 shares of the medical research company's stock valued at $3,673,000 after buying an additional 442 shares in the last quarter. Finally, Patten & Patten Inc. TN lifted its position in shares of Exact Sciences by 12.6% during the 4th quarter. Patten & Patten Inc. TN now owns 20,165 shares of the medical research company's stock valued at $1,492,000 after buying an additional 2,261 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EXAS. Canaccord Genuity Group lowered their price objective on Exact Sciences from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, February 22nd. TheStreet downgraded Exact Sciences from a "c-" rating to a "d+" rating in a research note on Monday, February 26th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Finally, Citigroup reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Exact Sciences in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Exact Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.44.

Insider Buying and Selling

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacob A. Orville sold 1,879 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $56.89, for a total value of $106,896.31. Following the transaction, the insider now owns 11,754 shares in the company, valued at approximately $668,685.06. The disclosure for this sale can be found here. Insiders have sold a total of 70,611 shares of company stock valued at $4,255,377 over the last ninety days. Company insiders own 1.30% of the company's stock.

Exact Sciences Stock Performance

Shares of EXAS stock traded up $1.53 during mid-day trading on Friday, reaching $62.07. The stock had a trading volume of 1,612,633 shares, compared to its average volume of 2,273,450. The business's fifty day moving average is $63.28 and its 200-day moving average is $64.79. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of -53.11 and a beta of 1.26. Exact Sciences Co. has a 1-year low of $56.05 and a 1-year high of $100.77.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced 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 business had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.72) earnings per share. On average, research analysts forecast that Exact Sciences Co. will post -0.86 earnings per share for the current 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.