UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 24.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,339,897 shares of the medical research company's stock after selling 423,648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.72% of Exact Sciences worth $91,274,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in shares of Exact Sciences during the second quarter worth about $163,896,000. Champlain Investment Partners LLC grew its holdings in shares of Exact Sciences by 10.9% during the third 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. 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. Principal Financial Group Inc. raised its stake in 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 acquiring an additional 208,641 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Exact Sciences by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company's stock worth $88,017,000 after acquiring an additional 45,015 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Trading Down 1.8 %

Shares of NASDAQ EXAS traded down $1.13 during midday trading on Tuesday, hitting $60.56. 2,550,840 shares of the stock traded hands, compared to its average volume of 2,647,813. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The business has a 50 day moving average price of $63.70 and a two-hundred day moving average price of $56.12. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate 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 company had revenue of $708.66 million during the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences's revenue was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the company's 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin T. Conroy acquired 19,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They set an "overweight" rating and a $75.00 target price for the company. Stifel Nicolaus reduced their price target on Exact Sciences from $82.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Canaccord Genuity Group cut their price objective on Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group raised their target price on Exact Sciences from $84.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, BTIG Research upped their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $75.29.

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.