Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,840 shares of the medical research company’s stock after selling 685 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Exact Sciences were worth $669,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its position in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after purchasing an additional 179 shares in the last quarter. Able Wealth Management LLC purchased a new stake in shares of Exact Sciences in the 4th quarter worth about $45,000. EverSource Wealth Advisors LLC grew its stake in Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after acquiring an additional 340 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Exact Sciences during the 1st quarter valued at about $55,000. Finally, Quest Partners LLC purchased a new position in Exact Sciences during the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. BTIG Research dropped their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group initiated coverage on Exact Sciences in a research report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective on the stock. 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 objective for the company. Piper Sandler upped their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Finally, Stifel Nicolaus decreased their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $78.14.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at approximately $958,090. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $70.09 on Friday. The business has a 50-day moving average of $57.32 and a two-hundred day moving average of $55.84. The firm has a market capitalization of $12.93 billion, a PE ratio of -53.10 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The firm had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.45) EPS. As a group, research analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current year.

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.