Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Macquarie Group Ltd.

Posted by Defense World Staff on Mar 7th, 2023

Macquarie Group Ltd. reduced its stake in shares of Exact Sciences Co. (NASDAQ:EXAS – Get Rating) by 94.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,210 shares of the medical research company’s stock after selling 4,491,393 shares during the quarter. Macquarie Group Ltd. owned about 0.15% of Exact Sciences worth $8,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its position in Exact Sciences by 16.5% during the 1st quarter. American Century Companies Inc. now owns 5,760 shares of the medical research company’s stock worth $403,000 after purchasing an additional 817 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Exact Sciences in the first quarter valued at about $742,000. Panagora Asset Management Inc. boosted its holdings in Exact Sciences by 4.6% during the first quarter. Panagora Asset Management Inc. now owns 7,281 shares of the medical research company’s stock worth $509,000 after buying an additional 323 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Exact Sciences by 13.5% during the first quarter. Dimensional Fund Advisors LP now owns 448,640 shares of the medical research company’s stock worth $31,377,000 after buying an additional 53,454 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Exact Sciences by 143.5% during the first quarter. Vontobel Holding Ltd. now owns 22,230 shares of the medical research company’s stock worth $1,585,000 after buying an additional 13,102 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Sarah Condella sold 1,000 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the sale, the executive vice president now directly owns 85,090 shares of the company’s stock, valued at $5,105,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kevin T. Conroy sold 4,527 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $64.55, for a total value of $292,217.85. Following the completion of the transaction, the chief executive officer now owns 1,173,105 shares in the company, valued at approximately $75,723,927.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sarah Condella sold 1,000 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the transaction, the executive vice president now owns 85,090 shares of the company’s stock, valued at approximately $5,105,400. The disclosure for this sale can be found here. Insiders have sold 57,126 shares of company stock valued at $3,590,586 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Exact Sciences Price Performance

EXAS opened at $67.03 on Tuesday. The company has a market cap of $11.95 billion, a P/E ratio of -18.94 and a beta of 1.42. The company has a 50 day moving average of $62.50 and a two-hundred day moving average of $47.41. The company has a quick ratio of 2.09, a current ratio of 2.38 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a 52-week low of $29.27 and a 52-week high of $76.94.

Exact Sciences (NASDAQ:EXAS – Get Rating) last announced its earnings results on Tuesday, February 21st. The medical research company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.18. The business had revenue of $553.00 million during the quarter, compared to the consensus estimate of $525.61 million. Exact Sciences had a negative net margin of 29.92% and a negative return on equity of 19.76%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.28) earnings per share. On average, analysts expect that Exact Sciences Co. will post -2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXAS has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Exact Sciences from $35.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. BTIG Research cut their target price on shares of Exact Sciences from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Craig Hallum lifted their target price on shares of Exact Sciences from $44.00 to $55.00 in a research report on Wednesday, February 22nd. Canaccord Genuity Group lifted their target price on shares of Exact Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Finally, Raymond James cut shares of Exact Sciences from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 18th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

Exact Sciences Profile

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EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.