Thompson Investment Management Inc. lessened its holdings in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 24.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,250 shares of the medical research company’s stock after selling 33,239 shares during the period. EXACT Sciences accounts for about 1.8% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Thompson Investment Management Inc. owned 0.08% of EXACT Sciences worth $9,150,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EXAS. NumerixS Investment Technologies Inc purchased a new position in EXACT Sciences during the 2nd quarter worth approximately $35,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of EXACT Sciences during the 2nd quarter valued at $43,000. Coastal Investment Advisors Inc. boosted its stake in shares of EXACT Sciences by 95.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 391 shares of the medical research company’s stock valued at $47,000 after buying an additional 191 shares during the period. NEXT Financial Group Inc acquired a new stake in shares of EXACT Sciences during the 2nd quarter valued at $50,000. Finally, HM Payson & Co. acquired a new stake in shares of EXACT Sciences during the 2nd quarter valued at $59,000. 87.09% of the stock is currently owned by institutional investors.
EXAS has been the subject of a number of research reports. Oppenheimer initiated coverage on shares of EXACT Sciences in a research note on Thursday, September 26th. They set an “outperform” rating and a $130.00 target price for the company. Bank of America reissued a “buy” rating and set a $135.00 target price on shares of EXACT Sciences in a research note on Thursday, October 31st. Craig Hallum lifted their target price on shares of EXACT Sciences from $115.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Leerink Swann decreased their target price on shares of EXACT Sciences from $133.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Zacks Investment Research raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $124.69.
In related news, SVP Scott C. Johnson sold 3,527 shares of EXACT Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $108.63, for a total value of $383,138.01. Following the completion of the sale, the senior vice president now owns 7,934 shares of the company’s stock, valued at approximately $861,870.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.
Shares of EXAS stock traded up $3.71 on Friday, hitting $83.66. The company’s stock had a trading volume of 2,824,000 shares, compared to its average volume of 1,831,697. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.75 and a quick ratio of 2.63. EXACT Sciences Co. has a fifty-two week low of $53.06 and a fifty-two week high of $123.99. The firm’s fifty day moving average price is $92.85 and its 200-day moving average price is $105.72. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of -61.51 and a beta of 1.37.
EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, October 29th. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.10. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. The business had revenue of $218.81 million during the quarter, compared to analyst estimates of $216.14 million. During the same quarter in the previous year, the business earned ($0.37) EPS. EXACT Sciences’s quarterly revenue was up 85.0% compared to the same quarter last year. Analysts predict that EXACT Sciences Co. will post -1.63 EPS for the current fiscal year.
EXACT Sciences Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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