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

Raymond James Financial Services Advisors Inc. cut its stake in Exact Sciences Co. (NASDAQ:EXAS) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,859 shares of the medical research company’s stock after selling 541 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Exact Sciences were worth $1,321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Exact Sciences in the 4th quarter valued at $30,000. Wolff Wiese Magana LLC increased its holdings in shares of Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 340 shares during the period. KB Financial Partners LLC acquired a new stake in shares of Exact Sciences in the 2nd quarter worth $32,000. BluePath Capital Management LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter worth $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Exact Sciences in the 3rd quarter worth $34,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $71.34 on Friday. The stock has a 50-day simple moving average of $63.28 and a two-hundred day simple moving average of $65.21. The firm has a market capitalization of $12.95 billion, a P/E ratio of -62.58 and a beta of 1.25. Exact Sciences Co. has a fifty-two week low of $56.05 and a fifty-two week high of $100.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.26. The business had revenue of $646.89 million during the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.72) EPS. On average, equities analysts forecast that Exact Sciences Co. will post -0.86 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, insider Jacob A. Orville sold 966 shares of Exact Sciences stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $59,341.38. Following the completion of the transaction, the insider now owns 7,488 shares in the company, valued at approximately $459,987.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kevin T. Conroy sold 14,791 shares of Exact Sciences stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $908,611.13. Following the completion of the transaction, the chief executive officer now owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacob A. Orville sold 966 shares of Exact Sciences stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,341.38. Following the completion of the transaction, the insider now owns 7,488 shares of the company’s stock, valued at approximately $459,987.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,113 shares of company stock worth $4,165,273. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of recent analyst reports. Benchmark raised Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Tuesday, January 2nd. Citigroup reissued a “buy” rating and issued a $100.00 price objective on shares of Exact Sciences in a research report on Wednesday, April 3rd. TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Canaccord Genuity Group lowered their price objective on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $97.44.

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.