Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC lowered its position in Exact Sciences Co. (NASDAQ:EXAS) by 11.0% during the third quarter, HoldingsChannel.com reports. The fund owned 71,354 shares of the medical research company’s stock after selling 8,775 shares during the quarter. Marco Investment Management LLC’s holdings in Exact Sciences were worth $4,861,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Huntington National Bank increased its position in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Exact Sciences in the 2nd quarter valued at about $29,000. Capital Performance Advisors LLP purchased a new position in Exact Sciences during the 3rd quarter valued at about $35,000. Vestor Capital LLC acquired a new position in Exact Sciences during the third quarter worth about $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Exact Sciences in the third quarter valued at about $47,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Canaccord Genuity Group cut their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI dropped their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Stifel Nicolaus reduced their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird decreased their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Piper Sandler reduced their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy acquired 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Exact Sciences Trading Down 0.3 %

EXAS stock opened at $52.91 on Friday. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -45.22 and a beta of 1.27. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $64.79 and a 200-day simple moving average of $55.87.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Exact Sciences Co. will post -1.08 EPS 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.