Cerity Partners LLC Grows Position in Exact Sciences Co. (NASDAQ:EXAS)

Cerity Partners LLC lifted its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 193.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,329 shares of the medical research company's stock after acquiring an additional 10,772 shares during the period. Cerity Partners LLC's holdings in Exact Sciences were worth $1,112,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in EXAS. Huntington National Bank raised its stake in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company's stock worth $27,000 after acquiring an additional 352 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences in the second quarter worth about $29,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $47,000. 88.82% of the stock is owned by institutional investors.

Exact Sciences Stock Down 2.4 %

EXAS stock traded down $1.53 during midday trading on Thursday, reaching $62.61. 1,903,255 shares of the company's stock traded hands, compared to its average volume of 2,644,573. The company has a market cap of $11.59 billion, a price-to-earnings ratio of -54.82 and a beta of 1.24. The firm's fifty day moving average price is $63.46 and its 200-day moving average price is $56.25. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. 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 announced its quarterly 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). The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business's revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts forecast that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXAS. Canaccord Genuity Group decreased their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Citigroup cut their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Benchmark dropped their price target on shares of Exact Sciences from $67.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. TD Cowen upped their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Evercore ISI decreased their price target on shares of Exact Sciences from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.29.

Insider Buying and Selling at Exact Sciences

In other 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 purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the company's stock in a transaction on Tuesday, October 8th. The stock was 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 approximately $893,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

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.