Charles Schwab Investment Management Inc. Acquires 45,015 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Charles Schwab Investment Management Inc. boosted its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,292,090 shares of the medical research company's stock after purchasing an additional 45,015 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of Exact Sciences worth $88,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXAS. B. Riley Wealth Advisors Inc. boosted its position in Exact Sciences by 15.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,829 shares of the medical research company's stock worth $261,000 after acquiring an additional 525 shares during the period. Tidal Investments LLC bought a new position in Exact Sciences in the 1st quarter valued at about $570,000. iA Global Asset Management Inc. bought a new position in Exact Sciences in the 1st quarter valued at about $2,819,000. Plato Investment Management Ltd increased its stake in Exact Sciences by 3,314.8% during the 1st quarter. Plato Investment Management Ltd now owns 11,747 shares of the medical research company's stock valued at $811,000 after buying an additional 11,403 shares during the period. Finally, Wahed Invest LLC raised its position in shares of Exact Sciences by 13.5% during the 1st quarter. Wahed Invest LLC now owns 3,459 shares of the medical research company's stock worth $239,000 after buying an additional 412 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin T. Conroy purchased 19,500 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXAS. Stifel Nicolaus lowered their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Sanford C. Bernstein lifted their price target on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Citigroup cut their price objective on Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group lifted their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, William Blair reissued an "outperform" rating on shares of Exact Sciences in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.29.

Exact Sciences Trading Up 2.6 %

NASDAQ EXAS traded up $1.59 on Thursday, hitting $61.69. 2,495,280 shares of the stock were exchanged, compared to its average volume of 2,657,947. The company's 50-day moving average price is $64.20 and its two-hundred day moving average price is $55.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of -52.73 and a beta of 1.27.

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). The business had revenue of $708.66 million for the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts predict that Exact Sciences Co. will post -1.13 EPS for the current year.

Exact Sciences 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.