Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 215.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,815 shares of the medical research company's stock after purchasing an additional 75,028 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Exact Sciences worth $7,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington National Bank raised its position in Exact Sciences by 838.1% during 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. acquired a new position in Exact Sciences during the second quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences in the third quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences in the 3rd quarter valued at about $35,000. Finally, Vestor Capital LLC purchased a new stake in Exact Sciences during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences 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 sale, the executive vice president now owns 12,758 shares of the company's stock, valued at $893,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin T. Conroy purchased 19,500 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares of the company's stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI decreased their target price on Exact Sciences from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Raymond James reaffirmed a "market perform" rating on shares of Exact Sciences in a research report on Thursday, September 26th. Craig Hallum reduced their target price on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a report on Thursday, November 21st. Finally, Sanford C. Bernstein lifted their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $75.29.

Exact Sciences Stock Performance

Shares of Exact Sciences stock traded down $0.39 during trading hours on Monday, reaching $61.69. The company's stock had a trading volume of 1,801,722 shares, compared to its average volume of 2,648,209. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company's 50 day simple moving average is $63.85 and its 200 day simple moving average is $56.05. The stock has a market cap of $11.42 billion, a P/E ratio of -53.06 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its 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 company had revenue of $708.66 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

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.