Canal Capital Management LLC Boosts Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Canal Capital Management LLC grew its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 11.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,651 shares of the medical research company’s stock after purchasing an additional 1,399 shares during the period. Canal Capital Management LLC’s holdings in Exact Sciences were worth $1,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Exact Sciences by 19.2% in the first quarter. AQR Capital Management LLC now owns 13,673 shares of the medical research company’s stock worth $1,755,000 after buying an additional 2,198 shares during the last quarter. Ameritas Investment Company LLC bought a new stake in shares of Exact Sciences in the first quarter worth $26,000. Principal Financial Group Inc. increased its stake in shares of Exact Sciences by 360.0% in the first quarter. Principal Financial Group Inc. now owns 361,161 shares of the medical research company’s stock worth $47,594,000 after buying an additional 282,651 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Exact Sciences by 20.8% in the first quarter. Schroder Investment Management Group now owns 4,219 shares of the medical research company’s stock worth $556,000 after buying an additional 727 shares during the last quarter. Finally, Columbia Asset Management increased its stake in shares of Exact Sciences by 10.0% in the first quarter. Columbia Asset Management now owns 2,425 shares of the medical research company’s stock worth $320,000 after buying an additional 220 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

EXAS stock opened at $88.09 on Friday. Exact Sciences Co. has a 52-week low of $81.07 and a 52-week high of $159.54. The company’s 50 day simple moving average is $94.68 and its 200-day simple moving average is $104.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.27 and a quick ratio of 2.14. The firm has a market capitalization of $15.18 billion, a P/E ratio of -17.72 and a beta of 1.21.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 1st. The medical research company reported ($0.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by ($0.08). Exact Sciences had a negative net margin of 46.14% and a negative return on equity of 11.53%. The company had revenue of $456.38 million during the quarter, compared to analyst estimates of $429.04 million. During the same quarter in the prior year, the company posted ($0.36) EPS. Sell-side analysts predict that Exact Sciences Co. will post -3.16 EPS for the current fiscal year.

A number of analysts recently issued reports on EXAS shares. Zacks Investment Research lowered shares of Exact Sciences from a “hold” rating to a “strong sell” rating and set a $88.00 price target for the company. in a research note on Wednesday, September 29th. Raymond James downgraded shares of Exact Sciences from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $160.00 to $130.00 in a report on Wednesday, November 3rd. SVB Leerink reduced their price target on shares of Exact Sciences from $160.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, November 3rd. Stifel Nicolaus reduced their price target on shares of Exact Sciences from $165.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 29th. Finally, BTIG Research reduced their price objective on shares of Exact Sciences from $145.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, November 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Exact Sciences has an average rating of “Buy” and a consensus target price of $136.64.

In related news, CEO Kevin T. Conroy sold 16,922 shares of the company’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $93.88, for a total transaction of $1,588,637.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin T. Conroy sold 17,078 shares of the company’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $93.64, for a total transaction of $1,599,183.92. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

About Exact Sciences

EXACT Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer. It developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)