Brookstone Capital Management Takes $387,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Brookstone Capital Management bought a new position in Exact Sciences Co. (NASDAQ:EXAS) in the 1st quarter, HoldingsChannel.com reports. The firm bought 5,605 shares of the medical research company’s stock, valued at approximately $387,000.

A number of other institutional investors have also recently bought and sold shares of EXAS. Vanguard Group Inc. boosted its position in shares of Exact Sciences by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after acquiring an additional 115,058 shares in the last quarter. Capital World Investors boosted its holdings in Exact Sciences by 7.8% during the fourth quarter. Capital World Investors now owns 7,468,145 shares of the medical research company’s stock valued at $552,493,000 after purchasing an additional 539,498 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Exact Sciences by 12.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock worth $330,711,000 after buying an additional 508,764 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Exact Sciences by 11.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,858,380 shares of the medical research company’s stock worth $137,483,000 after buying an additional 192,372 shares during the period. Finally, Norges Bank acquired a new stake in Exact Sciences in the 4th quarter valued at $120,308,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.4 %

Shares of NASDAQ EXAS opened at $42.43 on Tuesday. The firm’s 50-day moving average is $50.01 and its 200-day moving average is $59.98. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $100.77. The firm has a market capitalization of $7.83 billion, a PE ratio of -32.14 and a beta of 1.22. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. The company had revenue of $637.52 million during the quarter, compared to analysts’ expectations of $624.95 million. Equities analysts expect that Exact Sciences Co. will post -1.15 EPS for the current year.

Analyst Upgrades and Downgrades

EXAS has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price objective on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Jefferies Financial Group assumed coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a “buy” rating and a $75.00 price target for the company. Citigroup decreased their price objective on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. BTIG Research reduced their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, Scotiabank initiated coverage on Exact Sciences in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.86.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the sale, the chief executive officer now directly owns 1,156,191 shares in the company, valued at $69,544,888.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 1,498 shares of company stock valued at $90,105 in the last ninety days. 1.36% of the stock is owned by insiders.

Exact Sciences Company 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.