Exact Sciences Co. (NASDAQ:EXAS) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,106 shares of the medical research company’s stock after buying an additional 1,014 shares during the period. New York Life Investment Management LLC’s holdings in Exact Sciences were worth $1,561,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its holdings in shares of Exact Sciences by 459.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Exact Sciences during the third quarter valued at approximately $33,000. Cullen Frost Bankers Inc. lifted its position in shares of Exact Sciences by 40.0% during the third quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock worth $48,000 after purchasing an additional 200 shares in the last quarter. Valley National Advisers Inc. grew its holdings in Exact Sciences by 29.5% during the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after purchasing an additional 176 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new stake in Exact Sciences during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $63.35 on Tuesday. The firm’s 50-day simple moving average is $63.49 and its 200 day simple moving average is $64.71. The stock has a market cap of $11.65 billion, a P/E ratio of -55.57 and a beta of 1.26. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. Exact Sciences Co. has a fifty-two week low of $56.05 and a fifty-two week high of $100.77.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.26. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The company had revenue of $646.89 million for the quarter, compared to the consensus estimate of $638.83 million. During the same period in the previous year, the firm earned ($0.72) EPS. Exact Sciences’s revenue was up 17.0% on a year-over-year basis. Equities analysts expect that Exact Sciences Co. will post -0.86 EPS for the current year.

Analyst Ratings Changes

EXAS has been the subject of several recent analyst reports. TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Canaccord Genuity Group decreased their price objective on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, Citigroup reaffirmed a “buy” rating and set a $100.00 price target on shares of Exact Sciences in a research report on Wednesday, April 3rd. Two equities 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.com, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $99.07.

Insider Activity

In other news, General Counsel James Herriott sold 421 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the sale, the general counsel now owns 6,494 shares in the company, valued at $398,926.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director D Scott Coward sold 1,376 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $84,527.68. Following the sale, the director now directly owns 41,580 shares in the company, valued at approximately $2,554,259.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James Herriott sold 421 shares of Exact Sciences 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 $25,862.03. Following the completion of the transaction, the general counsel now owns 6,494 shares in the company, valued at approximately $398,926.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,611 shares of company stock worth $4,255,377. 1.30% of the stock is owned by company insiders.

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.