Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 8.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,049,935 shares of the medical research company's stock after selling 92,841 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.57% of Exact Sciences worth $71,522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC purchased a new stake in Exact Sciences during the third quarter worth $46,000. V Square Quantitative Management LLC purchased a new position in shares of Exact Sciences in the 3rd quarter valued at about $47,000. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences during the 2nd quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company's stock valued at $49,000 after purchasing an additional 340 shares during the period. Institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

EXAS has been the topic of several research reports. 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 research report on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Craig Hallum lowered 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 note on Wednesday, November 6th. Stifel Nicolaus dropped their target price on shares of Exact Sciences from $82.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Citigroup decreased their price target on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating on the stock in a research note 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $74.47.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy bought 19,500 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now directly 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 the SEC website. Also, 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 in the company, valued at $893,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Exact Sciences Trading Down 3.1 %

EXAS stock traded down $1.60 during midday trading on Friday, hitting $49.33. 2,492,735 shares of the company's stock were exchanged, compared to its average volume of 2,647,834. The business has a 50-day simple moving average of $65.83 and a two-hundred day simple moving average of $56.20. 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 capitalization of $9.13 billion, a PE ratio of -42.16 and a beta of 1.27. 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 posted its 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 firm 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%. Exact Sciences's revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts predict that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

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.