Bank of Nova Scotia Makes New Investment in Exact Sciences Co. (NASDAQ:EXAS)

Bank of Nova Scotia acquired a new position in Exact Sciences Co. (NASDAQ:EXASFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,858 shares of the medical research company’s stock, valued at approximately $211,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in Exact Sciences by 459.5% in the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after purchasing an additional 340 shares during the period. Valley National Advisers Inc. boosted its holdings in Exact Sciences by 29.5% in the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after purchasing an additional 176 shares during the period. National Bank of Canada FI boosted its holdings in shares of Exact Sciences by 30.9% during the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock valued at $63,000 after acquiring an additional 200 shares during the period. Quest Partners LLC acquired a new position in shares of Exact Sciences during the fourth quarter valued at $66,000. Finally, Desjardins Global Asset Management Inc. boosted its holdings in shares of Exact Sciences by 40.9% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 903 shares of the medical research company’s stock valued at $67,000 after acquiring an additional 262 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EXAS shares. Jefferies Financial Group started coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a “buy” rating and a $75.00 price target for the company. Citigroup reduced their price target on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Canaccord Genuity Group reduced their price target on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, May 9th. BTIG Research reduced their price target on shares of Exact Sciences from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Two equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $93.07.

View Our Latest Research Report on Exact Sciences

Insiders Place Their Bets

In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the executive vice president now owns 71,787 shares in the company, valued at approximately $5,025,090. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the executive vice president now owns 71,787 shares in the company, valued at approximately $5,025,090. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,498 shares of company stock worth $370,105. Company insiders own 1.36% of the company’s stock.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $42.93 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $58.36 and its two-hundred day moving average price is $62.58. Exact Sciences Co. has a 52 week low of $42.72 and a 52 week high of $100.77. The stock has a market cap of $7.92 billion, a PE ratio of -32.52 and a beta of 1.26.

Exact Sciences (NASDAQ:EXASGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. The firm had revenue of $637.52 million for the quarter, compared to analysts’ expectations of $624.95 million. As a group, sell-side analysts anticipate that Exact Sciences Co. will post -1.15 EPS for the current fiscal year.

Exact Sciences Company Profile

(Free Report)

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.

Read More

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

Receive News & Ratings for Exact Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exact Sciences and related companies with MarketBeat.com's FREE daily email newsletter.