National Bank of Canada FI raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS – Free Report) by 107.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 678 shares of the medical research company’s stock after purchasing an additional 351 shares during the period. National Bank of Canada FI’s holdings in Exact Sciences were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. acquired a new position in Exact Sciences during the 2nd quarter valued at about $37,000. Silvant Capital Management LLC lifted its position in Exact Sciences by 7.0% during the 2nd quarter. Silvant Capital Management LLC now owns 17,083 shares of the medical research company’s stock valued at $1,604,000 after purchasing an additional 1,123 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Exact Sciences by 0.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 45,385 shares of the medical research company’s stock valued at $4,277,000 after purchasing an additional 249 shares during the period. Vontobel Holding Ltd. lifted its position in Exact Sciences by 16.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 22,635 shares of the medical research company’s stock valued at $2,125,000 after purchasing an additional 3,187 shares during the period. Finally, Sweet Financial Partners LLC acquired a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $203,000. 89.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CFO Jeffrey Thomas Elliott sold 30,210 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $82.92, for a total value of $2,505,013.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Jeffrey Thomas Elliott sold 30,210 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $82.92, for a total value of $2,505,013.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $97.42, for a total value of $194,840.00. Following the sale, the director now directly owns 52,110 shares of the company’s stock, valued at $5,076,556.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,567 shares of company stock valued at $3,679,493. 1.30% of the stock is owned by insiders.
Exact Sciences Price Performance
Exact Sciences (NASDAQ:EXAS – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The medical research company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. The company had revenue of $622.10 million during the quarter, compared to the consensus estimate of $601.14 million. Exact Sciences had a negative return on equity of 14.08% and a negative net margin of 18.76%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.94) EPS. As a group, equities research analysts forecast that Exact Sciences Co. will post -1.89 EPS for the current fiscal year.
Analysts Set New Price Targets
EXAS has been the topic of a number of analyst reports. Credit Suisse Group increased their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Robert W. Baird increased their price target on shares of Exact Sciences from $99.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Bank of America increased their price target on shares of Exact Sciences from $105.00 to $110.00 in a research report on Wednesday, August 2nd. Sanford C. Bernstein initiated coverage on shares of Exact Sciences in a research report on Thursday, September 28th. They issued an “outperform” rating and a $83.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of Exact Sciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.59.
Check Out Our Latest Stock Analysis on EXAS
Exact Sciences Company 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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