Northwest & Ethical Investments L.P. Sells 36,242 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Northwest & Ethical Investments L.P. cut its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 55.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 28,870 shares of the medical research company's stock after selling 36,242 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Exact Sciences were worth $1,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in Exact Sciences during the 2nd quarter worth $163,896,000. Champlain Investment Partners LLC boosted its position in shares of Exact Sciences by 10.9% in the third 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 during the period. Armistice Capital LLC grew its stake in shares of Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company's stock valued at $59,154,000 after buying an additional 669,438 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Exact Sciences by 19.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,303,887 shares of the medical research company's stock valued at $55,089,000 after buying an additional 208,641 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Exact Sciences by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company's stock valued at $88,017,000 after buying an additional 45,015 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Up 0.6 %

Shares of EXAS traded up $0.39 during midday trading on Friday, reaching $62.08. 1,254,807 shares of the stock were exchanged, 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 -53.06 and a beta of 1.27. 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 12-month low of $40.62 and a 12-month high of $79.62. The firm has a 50 day simple moving average of $63.85 and a 200-day simple moving average of $56.02.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The company's revenue was up 12.8% compared to the same quarter last year. Research analysts forecast that Exact Sciences Co. will post -1.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EXAS shares. BTIG Research lifted their target price on Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday. Wells Fargo & Company began coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an "overweight" rating and a $75.00 target price on the stock. Craig Hallum cut their price objective on Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Robert W. Baird decreased their target price on Exact Sciences from $70.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Finally, Jefferies Financial Group boosted their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and a consensus target price of $75.29.

Insider Buying and Selling

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brian Baranick sold 929 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value 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 represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

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.