Belpointe Asset Management LLC lessened its position in shares of Exact Sciences Co. (NASDAQ:EXAS – Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,454 shares of the medical research company’s stock after selling 1,923 shares during the period. Belpointe Asset Management LLC’s holdings in Exact Sciences were worth $5,795,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Park Place Capital Corp raised its stake in Exact Sciences by 189.2% in the 1st quarter. Park Place Capital Corp now owns 376 shares of the medical research company’s stock worth $25,000 after purchasing an additional 246 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Exact Sciences by 15,466.7% in the first quarter. TCI Wealth Advisors Inc. now owns 467 shares of the medical research company’s stock valued at $32,000 after buying an additional 464 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Exact Sciences during the first quarter worth approximately $32,000. Ahrens Investment Partners LLC bought a new position in Exact Sciences during the 1st quarter worth $34,000. Finally, True Wealth Design LLC acquired a new position in Exact Sciences in the 4th quarter valued at $30,000. 89.13% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on EXAS. Jefferies Financial Group raised their price target on Exact Sciences from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Benchmark lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup boosted their price objective on shares of Exact Sciences from $100.00 to $130.00 in a research report on Thursday, June 22nd. The Goldman Sachs Group raised their target price on Exact Sciences from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, BTIG Research upped their price objective on Exact Sciences from $95.00 to $110.00 in a research report on Thursday, June 22nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.
Exact Sciences Stock Performance
NASDAQ:EXAS opened at $79.77 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.14 and a current ratio of 2.41. Exact Sciences Co. has a fifty-two week low of $29.27 and a fifty-two week high of $100.77. The company has a 50 day simple moving average of $88.44 and a two-hundred day simple moving average of $79.41. The company has a market capitalization of $14.41 billion, a PE ratio of -32.83 and a beta of 1.41.
Exact Sciences (NASDAQ:EXAS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The medical research company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.05. The company had revenue of $622.10 million during the quarter, compared to analysts’ expectations of $601.14 million. Exact Sciences had a negative net margin of 18.76% and a negative return on equity of 14.08%. Exact Sciences’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.94) earnings per share. Research analysts anticipate that Exact Sciences Co. will post -1.9 earnings per share for the current year.
Insider Transactions at Exact Sciences
In related news, insider Brian Baranick sold 1,350 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $85.04, for a total transaction of $114,804.00. Following the sale, the insider now owns 8,871 shares in the company, valued at approximately $754,389.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Brian Baranick sold 1,350 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $85.04, for a total transaction of $114,804.00. Following the transaction, the insider now directly owns 8,871 shares of the company’s stock, valued at $754,389.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel James Herriott sold 1,300 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $100.00, for a total transaction of $130,000.00. Following the completion of the sale, the general counsel now owns 5,964 shares of the company’s stock, valued at $596,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,860 shares of company stock valued at $2,944,657. Corporate insiders own 1.30% of the company’s stock.
Exact Sciences 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.
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