Fisher Asset Management LLC Sells 36,302 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Fisher Asset Management LLC trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 22.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,902 shares of the medical research company's stock after selling 36,302 shares during the period. Fisher Asset Management LLC owned 0.07% of Exact Sciences worth $8,372,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EXAS. William Blair Investment Management LLC bought a new position in Exact Sciences during the 2nd quarter worth $163,896,000. Sculptor Capital LP acquired a new position in shares of Exact Sciences during the second quarter valued at $32,819,000. Samlyn Capital LLC bought a new position in shares of Exact Sciences during the second quarter worth about $30,426,000. Armistice Capital LLC increased 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 acquiring an additional 669,438 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in 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 valued at $169,924,000 after purchasing an additional 245,980 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy acquired 19,500 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The shares were 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 $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on EXAS. TD Cowen lifted their target price on Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday. Sanford C. Bernstein lifted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Benchmark decreased their target price on shares of Exact Sciences from $67.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an "overweight" rating and a $75.00 price target on the stock. Finally, BTIG Research increased their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.29.

Exact Sciences Stock Up 0.6 %

Shares of EXAS traded up $0.39 during mid-day trading on Friday, reaching $62.08. The company's stock had a trading volume of 1,254,807 shares, compared to its average volume of 2,651,873. The company has a market cap of $11.49 billion, a price-to-earnings ratio of -52.47 and a beta of 1.27. The business has a fifty day moving average of $64.01 and a 200 day moving average of $55.97. 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 1 year low of $40.62 and a 1 year high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings data 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 analyst estimates 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 revenue was up 12.8% on a year-over-year basis. As a group, analysts forecast that Exact Sciences Co. will post -1.13 earnings per share 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.