Resonant Capital Advisors LLC Makes New $244,000 Investment in Exact Sciences Co. (NASDAQ:EXAS)

Resonant Capital Advisors LLC bought a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,585 shares of the medical research company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Exact Sciences by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after acquiring an additional 180,341 shares in the last quarter. Capital World Investors lifted its position in shares of Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after purchasing an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences during the second quarter worth approximately $163,896,000. Champlain Investment Partners LLC boosted its holdings in shares of Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after purchasing an additional 1,438,010 shares during the period. Finally, Armistice Capital LLC grew its position in Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

NASDAQ EXAS opened at $69.48 on Tuesday. The company has a market cap of $12.82 billion, a P/E ratio of -52.64 and a beta of 1.27. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $64.58 and a 200 day simple moving average of $56.53.

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

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. BTIG Research reduced their price objective on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Evercore ISI upped their target price on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler lifted their price target on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Finally, Benchmark dropped their price objective on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $78.38.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.36% of the stock is owned by company insiders.

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.