Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 16.8% during the 3rd quarter, Holdings Channel reports. The fund owned 14,953 shares of the medical research company’s stock after buying an additional 2,147 shares during the quarter. Brookstone Capital Management’s holdings in Exact Sciences were worth $1,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its holdings in Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the last quarter. Able Wealth Management LLC acquired a new position in Exact Sciences in the fourth quarter valued at approximately $45,000. Itau Unibanco Holding S.A. purchased a new position in Exact Sciences in the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased 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 acquiring an additional 340 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Exact Sciences in the first quarter valued at $55,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was 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 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.36% of the stock is owned by insiders.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $70.96 on Friday. The business has a 50-day simple moving average of $63.16 and a 200-day simple moving average of $56.62. The company has a market cap of $13.09 billion, a PE ratio of -53.76 and a beta of 1.27. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The company had revenue of $699.26 million for 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 quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.45) EPS. On average, equities research analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXAS. The Goldman Sachs Group cut their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Piper Sandler increased their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. BTIG Research cut their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Wells Fargo & Company initiated coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

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.