Level Four Advisory Services LLC boosted its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS – Free Report) by 59.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,357 shares of the medical research company’s stock after acquiring an additional 4,972 shares during the quarter. Level Four Advisory Services LLC’s holdings in Exact Sciences were worth $1,254,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Exact Sciences by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,676,611 shares of the medical research company’s stock worth $541,823,000 after acquiring an additional 698,740 shares during the last quarter. Capital World Investors grew its holdings in Exact Sciences by 17.2% during the 1st quarter. Capital World Investors now owns 5,487,009 shares of the medical research company’s stock worth $383,652,000 after acquiring an additional 804,159 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Exact Sciences by 9.8% during the 1st quarter. Ensign Peak Advisors Inc now owns 2,856,406 shares of the medical research company’s stock worth $193,693,000 after acquiring an additional 254,519 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Exact Sciences by 23.8% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,687,326 shares of the medical research company’s stock worth $182,228,000 after acquiring an additional 516,233 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Exact Sciences by 3.7% during the 1st quarter. Geode Capital Management LLC now owns 2,591,057 shares of the medical research company’s stock worth $175,458,000 after acquiring an additional 91,883 shares during the last quarter. 89.13% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Exact Sciences from $100.00 to $130.00 in a research note on Thursday, June 22nd. StockNews.com assumed coverage on shares of Exact Sciences in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Benchmark lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Exact Sciences from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, BTIG Research boosted their target price on shares of Exact Sciences from $95.00 to $110.00 in a research report on Thursday, June 22nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.
Exact Sciences Stock Performance
EXAS opened at $66.85 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.14 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average price is $84.82 and its two-hundred day moving average price is $79.99. Exact Sciences Co. has a 1-year low of $29.27 and a 1-year high of $100.77. The company has a market cap of $12.08 billion, a price-to-earnings ratio of -27.51 and a beta of 1.41.
Exact Sciences (NASDAQ:EXAS – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The medical research company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.05. Exact Sciences had a negative net margin of 18.76% and a negative return on equity of 14.08%. The firm had revenue of $622.10 million for the quarter, compared to the consensus estimate of $601.14 million. During the same quarter in the prior year, the company posted ($0.94) earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. On average, analysts expect that Exact Sciences Co. will post -1.9 EPS for the current fiscal year.
Insider Activity
In other news, General Counsel James Herriott sold 1,300 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $100.00, for a total value of $130,000.00. Following the completion of the sale, the general counsel now owns 5,964 shares in the company, valued at $596,400. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $97.42, for a total transaction of $194,840.00. Following the completion of the transaction, the director now owns 52,110 shares in the company, valued at $5,076,556.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel James Herriott sold 1,300 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $100.00, for a total transaction of $130,000.00. Following the transaction, the general counsel now owns 5,964 shares of the company’s stock, valued at approximately $596,400. The disclosure for this sale can be found here. Insiders sold a total of 34,860 shares of company stock worth $2,944,657 over the last quarter. Insiders own 1.30% of the company’s stock.
Exact Sciences Profile
Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.
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