Raymond James Financial Services Advisors Inc. Lowers Stake in Exact Sciences Co. (NASDAQ:EXAS)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXASGet Rating) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,458 shares of the medical research company’s stock after selling 1,912 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Exact Sciences were worth $1,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its position in Exact Sciences by 44.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 667 shares of the medical research company’s stock worth $26,000 after purchasing an additional 205 shares during the period. Ellevest Inc. raised its position in Exact Sciences by 103.6% in the 2nd quarter. Ellevest Inc. now owns 682 shares of the medical research company’s stock worth $27,000 after purchasing an additional 347 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Exact Sciences during the third quarter valued at about $33,000. National Bank of Canada FI grew its stake in shares of Exact Sciences by 72.6% in the third quarter. National Bank of Canada FI now owns 1,189 shares of the medical research company’s stock worth $39,000 after purchasing an additional 500 shares during the last quarter. Finally, Northern Oak Wealth Management Inc. increased its holdings in Exact Sciences by 33.8% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 1,585 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Exact Sciences Price Performance

NASDAQ EXAS opened at $68.38 on Wednesday. The business’s fifty day moving average price is $49.02 and its 200-day moving average price is $42.57. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of -16.68 and a beta of 1.30. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.47 and a quick ratio of 2.20. Exact Sciences Co. has a 1-year low of $29.27 and a 1-year high of $84.46.

Exact Sciences (NASDAQ:EXASGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The medical research company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.26. The firm had revenue of $523.07 million during the quarter, compared to analyst estimates of $500.78 million. Exact Sciences had a negative return on equity of 22.10% and a negative net margin of 35.73%. On average, equities analysts predict that Exact Sciences Co. will post -3.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EXAS. Robert W. Baird reduced their price target on Exact Sciences from $75.00 to $60.00 in a report on Friday, November 4th. SVB Leerink boosted their price target on Exact Sciences from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, January 12th. BTIG Research reduced their price target on Exact Sciences from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, November 7th. StockNews.com initiated coverage on Exact Sciences in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Craig Hallum upped their target price on Exact Sciences from $35.00 to $44.00 in a report on Monday, January 9th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.57.

Insider Transactions at Exact Sciences

In other news, EVP Sarah Condella sold 1,000 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $60.00, for a total value of $60,000.00. Following the completion of the sale, the executive vice president now directly owns 85,090 shares in the company, valued at approximately $5,105,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

About Exact Sciences

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EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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