Bellevue Group AG Grows Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Bellevue Group AG increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 25.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,449,465 shares of the medical research company's stock after acquiring an additional 290,585 shares during the period. Exact Sciences makes up about 1.6% of Bellevue Group AG's holdings, making the stock its 18th biggest position. Bellevue Group AG owned 0.78% of Exact Sciences worth $98,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EXAS. Chicago Partners Investment Group LLC boosted its position in shares of Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company's stock valued at $651,000 after acquiring an additional 158 shares during the last quarter. Amalgamated Bank lifted its position in Exact Sciences by 2.7% during the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company's stock valued at $462,000 after purchasing an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company's stock worth $49,000 after buying an additional 340 shares in the last quarter. Huntington National Bank increased its holdings in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock worth $27,000 after buying an additional 352 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Exact Sciences by 6.2% during the 2nd quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company's stock valued at $258,000 after buying an additional 356 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares of the company's stock, valued at $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by insiders.

Exact Sciences Stock Up 0.6 %

EXAS traded up $0.39 on Friday, hitting $62.08. The company had a trading volume of 1,254,807 shares, compared to its average volume of 3,926,634. The stock has a fifty day simple moving average of $63.85 and a 200-day simple moving average of $56.03. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The firm has a market capitalization of $11.49 billion, a P/E ratio of -53.06 and a beta of 1.27. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million during the quarter, compared to analysts' expectations of $716.80 million. The business's revenue was up 12.8% on a year-over-year basis. As a group, equities analysts expect that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EXAS shares. Stifel Nicolaus cut their target price on shares of Exact Sciences from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Craig Hallum cut their price objective on Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Canaccord Genuity Group decreased their price objective on Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group cut their target price on Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lifted their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.29.

About Exact Sciences

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.