New York State Common Retirement Fund lifted its position in Exact Sciences Co. (NASDAQ:EXAS – Get Rating) by 22.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 506,694 shares of the medical research company’s stock after purchasing an additional 94,549 shares during the quarter. New York State Common Retirement Fund owned about 0.29% of Exact Sciences worth $25,086,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Exact Sciences by 45.7% in the third quarter. Signaturefd LLC now owns 957 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Exact Sciences in the third quarter valued at about $33,000. National Bank of Canada FI grew its holdings in shares of Exact Sciences by 72.6% in the third quarter. National Bank of Canada FI now owns 1,189 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 500 shares during the period. Quent Capital LLC grew its holdings in shares of Exact Sciences by 12,014.3% in the fourth quarter. Quent Capital LLC now owns 848 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 841 shares during the period. Finally, Baldwin Brothers LLC MA purchased a new stake in shares of Exact Sciences in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Credit Suisse Group reissued a “neutral” rating and issued a $70.00 price objective on shares of Exact Sciences in a report on Wednesday, February 22nd. SVB Leerink upped their target price on shares of Exact Sciences from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, January 12th. Cowen upped their target price on shares of Exact Sciences from $56.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Craig Hallum upped their target price on shares of Exact Sciences from $44.00 to $55.00 in a research report on Wednesday, February 22nd. Finally, Benchmark upped their target price on shares of Exact Sciences from $54.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, March 15th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.14.
Exact Sciences Stock Down 0.3 %
Exact Sciences (NASDAQ:EXAS – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The medical research company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.18. The business had revenue of $553.00 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.28) earnings per share. Analysts forecast that Exact Sciences Co. will post -2.76 earnings per share for the current fiscal year.
Insider Activity at Exact Sciences
In related news, CFO Jeffrey Thomas Elliott sold 1,158 shares of Exact Sciences stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $64.55, for a total value of $74,748.90. Following the completion of the transaction, the chief financial officer now owns 20,549 shares in the company, valued at $1,326,437.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Jeffrey Thomas Elliott sold 1,158 shares of Exact Sciences stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $64.55, for a total value of $74,748.90. Following the completion of the transaction, the chief financial officer now owns 20,549 shares in the company, valued at $1,326,437.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy sold 4,527 shares of Exact Sciences stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $64.55, for a total transaction of $292,217.85. Following the completion of the transaction, the chief executive officer now owns 1,173,105 shares of the company’s stock, valued at approximately $75,723,927.75. The disclosure for this sale can be found here. Insiders have sold a total of 62,126 shares of company stock valued at $3,922,776 over the last 90 days. 1.30% of the stock is owned by corporate insiders.
Exact Sciences Profile
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.
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