Eagle Wealth Strategies LLC Makes New Investment in Exact Sciences Co. (NASDAQ:EXAS)

Eagle Wealth Strategies LLC bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,000 shares of the medical research company’s stock, valued at approximately $272,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its stake 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 during the last quarter. Able Wealth Management LLC bought a new stake in Exact Sciences during the fourth quarter worth $45,000. Itau Unibanco Holding S.A. bought a new stake in Exact Sciences during the second quarter worth $29,000. EverSource Wealth Advisors LLC lifted its stake in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after purchasing an additional 340 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Exact Sciences in the 1st quarter valued at $55,000. 88.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the business’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 transaction, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

Exact Sciences stock traded up $0.16 during mid-day trading on Wednesday, reaching $68.73. The company’s stock had a trading volume of 31,514 shares, compared to its average volume of 2,617,164. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a market capitalization of $12.68 billion, a P/E ratio of -51.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The firm’s fifty day moving average price is $62.21 and its two-hundred day moving average price is $56.45.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. Exact Sciences’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.45) EPS. Sell-side analysts predict that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 price target on shares of Exact Sciences in a research note on Friday, September 13th. Stifel Nicolaus dropped their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. BTIG Research decreased their price objective on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, Piper Sandler increased their price objective on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

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.