Everence Capital Management Inc. Invests $356,000 in Exact Sciences Co. (NASDAQ:EXAS)

Everence Capital Management Inc. acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the 4th quarter, HoldingsChannel reports. The fund acquired 6,330 shares of the medical research company’s stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EXAS. Huntington National Bank lifted its stake in 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 acquiring an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Exact Sciences in the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP bought a new position in Exact Sciences during the third quarter worth about $35,000. Vestor Capital LLC acquired a new position in Exact Sciences during the third quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC acquired a new position in Exact Sciences during the third quarter worth approximately $47,000. 88.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EXAS has been the subject of several research analyst reports. Jefferies Financial Group lifted their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Benchmark decreased their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. BTIG Research raised their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Robert W. Baird reduced their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, TD Cowen raised their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.94.

Exact Sciences Stock Up 1.0 %

Shares of NASDAQ EXAS opened at $57.80 on Tuesday. The stock has a market capitalization of $10.70 billion, a P/E ratio of -49.40 and a beta of 1.24. The stock’s fifty day moving average is $58.86 and its 200 day moving average is $58.50. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The business’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.36% 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.