Jennison Associates LLC reduced its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762,736 shares of the medical research company's stock after selling 121,923 shares during the period. Jennison Associates LLC owned 0.41% of Exact Sciences worth $42,858,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Huntington National Bank grew its stake in Exact Sciences by 838.1% in the 3rd 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 period. RPg Family Wealth Advisory LLC purchased a new stake in Exact Sciences in the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new stake in Exact Sciences in the 3rd quarter worth approximately $35,000. Vestor Capital LLC purchased a new stake in Exact Sciences in the 3rd quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in Exact Sciences in the 3rd quarter worth approximately $47,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
EXAS has been the subject of several research reports. The Goldman Sachs Group lowered their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. BTIG Research boosted their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Canaccord Genuity Group lowered their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Citigroup lowered their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, TD Cowen boosted their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.76.
Check Out Our Latest Stock Report on Exact Sciences
Exact Sciences Stock Down 2.7 %
EXAS stock traded down $1.50 during trading on Thursday, reaching $54.28. The stock had a trading volume of 1,227,907 shares, compared to its average volume of 2,242,304. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year 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 company has a market capitalization of $10.05 billion, a P/E ratio of -46.39 and a beta of 1.24. The firm has a fifty day moving average price of $57.48 and a 200 day moving average price of $59.93.
Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued 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). 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 revenue was up 12.8% on a year-over-year basis. On average, equities analysts anticipate that Exact Sciences Co. will post -1.1 earnings per share for the current year.
Insider Activity
In related news, CEO Kevin T. Conroy bought 19,500 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares in the company, 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. Company insiders own 1.36% of the company's stock.
Exact Sciences Company Profile
(
Free Report)
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.
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