Prudential PLC Invests $364,000 in Exact Sciences Co. (NASDAQ:EXAS)

Posted by Defense World Staff on May 19th, 2023

Prudential PLC bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS – Get Rating) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,362 shares of the medical research company’s stock, valued at approximately $364,000.

A number of other large investors also recently modified their holdings of EXAS. Desjardins Global Asset Management Inc. lifted its position in shares of Exact Sciences by 42.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 549 shares of the medical research company’s stock worth $27,000 after purchasing an additional 163 shares in the last quarter. Signaturefd LLC raised its stake in shares of Exact Sciences by 45.7% during the third quarter. Signaturefd LLC now owns 957 shares of the medical research company’s stock worth $31,000 after buying an additional 300 shares during the last quarter. Quent Capital LLC raised its stake in shares of Exact Sciences by 12,014.3% during the fourth quarter. Quent Capital LLC now owns 848 shares of the medical research company’s stock worth $42,000 after buying an additional 841 shares during the last quarter. Baldwin Brothers LLC MA bought a new stake in shares of Exact Sciences during the fourth quarter worth approximately $47,000. Finally, Benjamin Edwards Inc. raised its stake in shares of Exact Sciences by 14.0% during the fourth quarter. Benjamin Edwards Inc. now owns 1,348 shares of the medical research company’s stock worth $67,000 after buying an additional 166 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXAS has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Exact Sciences from $75.00 to $85.00 in a research note on Wednesday, May 10th. Craig Hallum raised shares of Exact Sciences from a “hold” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $85.00 in a research note on Wednesday, May 10th. StockNews.com assumed coverage on shares of Exact Sciences in a research note on Thursday. They set a “hold” rating for the company. 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 note on Wednesday, February 22nd. Finally, Robert W. Baird upped their target price on shares of Exact Sciences from $92.00 to $99.00 in a research note on Wednesday, May 10th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $79.13.

Exact Sciences Stock Up 3.4 %

Exact Sciences stock opened at $81.28 on Friday. The stock has a market capitalization of $14.66 billion, a PE ratio of -27.84 and a beta of 1.41. Exact Sciences Co. has a twelve month low of $29.27 and a twelve month high of $81.76. The company has a quick ratio of 2.63, a current ratio of 2.97 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $67.57 and a 200-day moving average of $59.04.

Exact Sciences (NASDAQ:EXAS – Get Rating) last announced its earnings results on Tuesday, May 9th. The medical research company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.37. Exact Sciences had a negative net margin of 23.49% and a negative return on equity of 16.64%. The business had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $543.18 million. During the same quarter in the prior year, the company posted ($1.04) earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. On average, equities research analysts anticipate that Exact Sciences Co. will post -2.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacob A. Orville sold 6,832 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $60.29, for a total transaction of $411,901.28. Following the completion of the transaction, the insider now owns 16,423 shares in the company, valued at $990,142.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exact Sciences news, General Counsel James Herriott sold 2,225 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $60.43, for a total value of $134,456.75. Following the completion of the sale, the general counsel now owns 9,224 shares in the company, valued at $557,406.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacob A. Orville sold 6,832 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $60.29, for a total transaction of $411,901.28. Following the completion of the sale, the insider now owns 16,423 shares of the company’s stock, valued at approximately $990,142.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,170 shares of company stock worth $3,320,986. 1.30% of the stock is owned by insiders.

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.