Baird Financial Group Inc. Decreases Position in Exact Sciences Co. (NASDAQ:EXAS)

Posted by Defense World Staff on Jun 11th, 2023

Baird Financial Group Inc. lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS – Get Rating) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 196,100 shares of the medical research company’s stock after selling 13,275 shares during the period. Baird Financial Group Inc. owned 0.11% of Exact Sciences worth $9,709,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of EXAS. Desjardins Global Asset Management Inc. increased its stake in shares of Exact Sciences by 42.2% during the 4th 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 during the last quarter. Signaturefd LLC boosted its holdings in Exact Sciences by 45.7% in the 3rd 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 period. Assetmark Inc. bought a new position in Exact Sciences in the 4th quarter worth approximately $31,000. Quent Capital LLC boosted its holdings in Exact Sciences by 12,014.3% in the 4th 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 period. Finally, Baldwin Brothers LLC MA bought a new position in Exact Sciences in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Exact Sciences Stock Down 3.1 %

NASDAQ EXAS opened at $87.81 on Friday. Exact Sciences Co. has a 52-week low of $29.27 and a 52-week high of $91.19. 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 fifty day moving average of $73.55 and a 200-day moving average of $64.05.

Exact Sciences (NASDAQ:EXAS – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The medical research company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $602.00 million during the quarter, compared to the consensus estimate of $543.18 million. During the same period in the previous year, the firm posted ($1.04) EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, research analysts forecast that Exact Sciences Co. will post -2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EXAS shares. Piper Sandler raised their price objective on shares of Exact Sciences from $70.00 to $80.00 in a report on Monday, May 15th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Exact Sciences in a report on Wednesday, February 22nd. Craig Hallum raised shares of Exact Sciences from a “hold” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $85.00 in a report on Wednesday, May 10th. Stifel Nicolaus raised their price target on shares of Exact Sciences from $75.00 to $85.00 in a report on Wednesday, May 10th. Finally, Robert W. Baird raised their price target on shares of Exact Sciences from $92.00 to $99.00 in a report on Wednesday, May 10th. Five 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 currently has a consensus rating of “Moderate Buy” and an average target price of $80.35.

Insiders Place Their Bets

In other Exact Sciences news, EVP Sarah Condella sold 1,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $63.78, for a total value of $63,780.00. Following the completion of the sale, the executive vice president now directly owns 86,401 shares of the company’s stock, valued at $5,510,655.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exact Sciences news, EVP Sarah Condella sold 1,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $63.78, for a total value of $63,780.00. Following the completion of the sale, the executive vice president now directly owns 86,401 shares of the company’s stock, valued at $5,510,655.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel James Herriott sold 1,300 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $79.85, for a total transaction of $103,805.00. Following the completion of the sale, the general counsel now directly owns 8,564 shares of the company’s stock, valued at $683,835.40. The disclosure for this sale can be found here. Insiders sold 14,387 shares of company stock valued at $1,121,735 over the last three months. Insiders own 1.30% of the company’s stock.

About Exact Sciences

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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.