Channel Wealth LLC Has $1.59 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Channel Wealth LLC trimmed its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 23.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,274 shares of the medical research company's stock after selling 8,712 shares during the quarter. Channel Wealth LLC's holdings in Exact Sciences were worth $1,589,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its stake in shares of Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company's stock valued at $651,000 after purchasing an additional 158 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Exact Sciences by 2.7% in the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company's stock valued at $462,000 after acquiring an additional 284 shares in the last quarter. Huntington National Bank increased its stake in shares of Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company's stock valued at $27,000 after acquiring an additional 352 shares during the period. CIBC Asset Management Inc raised its holdings in Exact Sciences by 6.1% during the third quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company's stock worth $442,000 after purchasing an additional 371 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Exact Sciences by 1.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company's stock valued at $1,952,000 after purchasing an additional 402 shares during the period. Institutional investors own 88.82% of the company's stock.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.36% of the stock is currently owned by company insiders.

Exact Sciences Stock Up 2.5 %

Shares of EXAS traded up $1.28 during trading hours on Friday, reaching $51.72. The company's stock had a trading volume of 2,112,987 shares, compared to its average volume of 2,684,458. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of -44.21 and a beta of 1.24. The company has a 50 day moving average of $57.14 and a two-hundred day moving average of $58.97. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year 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) earnings per share (EPS) 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 company had revenue of $708.66 million during the quarter, compared to analysts' expectations of $716.80 million. The company's revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts predict that Exact Sciences Co. will post -1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Monday. Stifel Nicolaus reduced their price objective 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. Sanford C. Bernstein boosted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Raymond James reissued a "market perform" rating on shares of Exact Sciences in a research note on Thursday, September 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 report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.94.

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.