Brookstone Capital Management Decreases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Brookstone Capital Management cut its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 34.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,876 shares of the medical research company's stock after selling 5,077 shares during the period. Brookstone Capital Management's holdings in Exact Sciences were worth $555,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company's stock worth $211,104,000 after acquiring an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Exact Sciences by 10.9% during the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company's stock valued at $169,924,000 after purchasing an additional 245,980 shares during the period. Bellevue Group AG lifted its stake in Exact Sciences by 25.1% in the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company's stock worth $98,738,000 after acquiring an additional 290,585 shares during the period. Armistice Capital LLC increased its holdings in shares of Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company's stock valued at $59,154,000 after acquiring an additional 669,438 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Exact Sciences by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company's stock valued at $88,017,000 after buying an additional 45,015 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Shares of Exact Sciences stock traded up $1.30 during trading on Friday, hitting $51.74. 2,930,977 shares of the stock were exchanged, compared to its average volume of 1,384,925. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of -44.22 and a beta of 1.24. The company has a fifty day moving average price of $57.15 and a 200-day moving average price of $59.03. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The firm's revenue was up 12.8% on a year-over-year basis. As a group, equities analysts predict that Exact Sciences Co. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares of the company's stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the topic of a number of analyst reports. TD Cowen lifted their price objective on Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Bank of America reduced their price objective on Exact Sciences from $75.00 to $72.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Monday, January 13th. Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Raymond James restated a "market perform" rating on shares of Exact Sciences in a report on Thursday, September 26th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Exact Sciences currently has an average rating of "Moderate Buy" and an average target price of $72.94.

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.