Beacon Investment Advisory Services Inc. Sells 26,980 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Beacon Investment Advisory Services Inc. decreased its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 79.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,005 shares of the medical research company's stock after selling 26,980 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Exact Sciences were worth $394,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Exact Sciences by 0.3% in 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 period. Champlain Investment Partners LLC raised its holdings in shares of Exact Sciences by 10.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company's stock worth $169,924,000 after buying an additional 245,980 shares in the last quarter. Bellevue Group AG raised its holdings in shares of Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company's stock worth $98,738,000 after buying an additional 290,585 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company's stock worth $59,154,000 after buying an additional 669,438 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Exact Sciences by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company's stock worth $88,017,000 after buying an additional 45,015 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Exact Sciences Trading Up 1.5 %

Shares of NASDAQ:EXAS traded up $0.85 during midday trading on Friday, hitting $55.98. The company had a trading volume of 1,773,840 shares, compared to its average volume of 2,745,541. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of -47.85 and a beta of 1.24. The firm has a fifty day simple moving average of $57.41 and a 200 day simple moving average of $59.32.

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

Wall Street Analyst Weigh In

EXAS has been the subject of a number of recent research reports. Benchmark reissued a "buy" rating and issued a $65.00 target price on shares of Exact Sciences in a report on Monday, January 13th. Stifel Nicolaus dropped their target price on Exact Sciences from $82.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group raised their price target on Exact Sciences from $84.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. TD Cowen raised their price target on Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Barclays initiated coverage on Exact Sciences in a report on Thursday. They set an "overweight" rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, Exact Sciences currently has an average rating of "Moderate Buy" and an average target price of $72.76.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares of the company's stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company's stock.

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.