Belpointe Asset Management LLC Reduces Stock Position in Exact Sciences Corporation $EXAS

Belpointe Asset Management LLC reduced its position in Exact Sciences Corporation (NASDAQ:EXAS) by 9.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,990 shares of the medical research company’s stock after selling 4,954 shares during the period. Belpointe Asset Management LLC’s holdings in Exact Sciences were worth $2,516,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Exact Sciences in the first quarter valued at about $604,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Exact Sciences by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,186 shares of the medical research company’s stock valued at $921,000 after buying an additional 2,231 shares during the last quarter. Great Lakes Advisors LLC increased its position in Exact Sciences by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock worth $215,000 after buying an additional 178 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Exact Sciences by 12.6% in the first quarter. Focus Partners Wealth now owns 21,548 shares of the medical research company’s stock worth $933,000 after acquiring an additional 2,413 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Exact Sciences by 37.0% in the second quarter. Farther Finance Advisors LLC now owns 1,018 shares of the medical research company’s stock valued at $54,000 after acquiring an additional 275 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Price Performance

Exact Sciences stock opened at $102.34 on Wednesday. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $102.66. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72. The firm has a 50 day moving average price of $101.37 and a 200 day moving average price of $71.12. The company has a market cap of $19.53 billion, a price-to-earnings ratio of -19.24, a PEG ratio of 2.42 and a beta of 1.40.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The company had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. During the same quarter last year, the firm posted ($0.21) earnings per share. Exact Sciences’s revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Jacob A. Orville sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the executive vice president owned 23,237 shares of the company’s stock, valued at approximately $1,742,775. The trade was a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the sale, the executive vice president owned 22,368 shares of the company’s stock, valued at $1,567,549.44. This represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EXAS has been the subject of a number of recent research reports. Wolfe Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Zacks Research upgraded shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Benchmark lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Jefferies Financial Group lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and raised their target price for the stock from $90.00 to $105.00 in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.56.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.