Sequoia Financial Advisors LLC Takes Position in Exact Sciences Co. (NASDAQ:EXAS)

Sequoia Financial Advisors LLC bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,980 shares of the medical research company’s stock, valued at approximately $516,000.

A number of other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Exact Sciences by 11.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,858,380 shares of the medical research company’s stock worth $137,483,000 after acquiring an additional 192,372 shares during the period. International Assets Investment Management LLC purchased a new position in Exact Sciences in the 4th quarter worth about $138,690,000. Nisa Investment Advisors LLC increased its stake in Exact Sciences by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 37,200 shares of the medical research company’s stock worth $2,752,000 after purchasing an additional 205 shares in the last quarter. Fulton Bank N.A. increased its stake in Exact Sciences by 7.4% in the 4th quarter. Fulton Bank N.A. now owns 5,731 shares of the medical research company’s stock worth $424,000 after purchasing an additional 396 shares in the last quarter. Finally, KRS Capital Management LLC purchased a new position in Exact Sciences in the 4th quarter worth about $277,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jacob A. Orville sold 966 shares of the company’s stock in a transaction that occurred on 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 directly owns 7,488 shares in the company, valued at $459,987.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jacob A. Orville sold 966 shares of the company’s stock in a transaction that occurred on 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 directly owns 7,488 shares in the company, valued at $459,987.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sarah Condella sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the executive vice president now owns 71,787 shares of the company’s stock, valued at $5,025,090. The disclosure for this sale can be found here. Insiders sold 69,113 shares of company stock valued at $4,165,273 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EXAS has been the subject of a number of research reports. Benchmark upgraded 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. William Blair restated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Canaccord Genuity Group decreased 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. Citigroup restated a “buy” rating and set a $100.00 price objective on shares of Exact Sciences in a research report on Wednesday, April 3rd. Finally, TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $97.44.

Exact Sciences Stock Down 2.3 %

Shares of Exact Sciences stock opened at $63.86 on Wednesday. The stock has a market capitalization of $11.59 billion, a P/E ratio of -56.02 and a beta of 1.25. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The stock has a 50 day moving average price of $63.32 and a two-hundred day moving average price of $65.13. Exact Sciences Co. has a 12-month low of $56.05 and a 12-month high of $100.77.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.26. The firm had revenue of $646.89 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned ($0.72) earnings per share. Equities analysts expect that Exact Sciences Co. will post -0.86 earnings per share for the current 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.