Creative Planning Buys 4,906 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Creative Planning grew its position in Exact Sciences Co. (NASDAQ:EXAS) by 14.8% in the third quarter, Holdings Channel reports. The fund owned 38,060 shares of the medical research company’s stock after acquiring an additional 4,906 shares during the quarter. Creative Planning’s holdings in Exact Sciences were worth $2,593,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its position in Exact Sciences by 1.7% in the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank raised its holdings in Exact Sciences by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after buying an additional 284 shares during the last quarter. Midwest Professional Planners LTD. boosted its position in Exact Sciences by 12.3% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock worth $213,000 after buying an additional 339 shares during the period. EverSource Wealth Advisors LLC boosted its position in Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Exact Sciences by 6.2% during the 2nd quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock worth $258,000 after acquiring an additional 356 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EXAS shares. Canaccord Genuity Group reiterated a “buy” rating and set a $75.00 price target on shares of Exact Sciences in a report on Friday, September 13th. Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. Benchmark decreased their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Piper Sandler lifted their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus reduced their target price on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $78.38.

Exact Sciences Stock Down 1.6 %

EXAS opened at $69.11 on Friday. The company has a fifty day moving average price of $65.77 and a two-hundred day moving average price of $56.58. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results 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 business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.45) EPS. Analysts expect 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.