Merit Financial Group LLC acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,190 shares of the medical research company’s stock, valued at approximately $235,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its position in shares of Exact Sciences by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares in the last quarter. Amalgamated Bank raised its stake in Exact Sciences by 2.7% in the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after buying an additional 284 shares during the last quarter. Huntington National Bank raised its stake in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Exact Sciences by 6.1% in the third quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock worth $442,000 after acquiring an additional 371 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Exact Sciences by 1.4% during the third quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock worth $1,952,000 after acquiring an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.
Insider Transactions at Exact Sciences
In related news, CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.
Exact Sciences Stock Up 1.5 %
Exact Sciences (NASDAQ:EXAS – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business’s revenue was up 12.8% on a year-over-year basis. On average, research analysts expect that Exact Sciences Co. will post -1.1 earnings per share for the current year.
Wall Street Analysts Forecast Growth
EXAS has been the topic of several research analyst reports. Evercore ISI dropped their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group cut their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Sanford C. Bernstein lifted their price target on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird cut their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen raised their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.76.
Get Our Latest Report on Exact Sciences
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.
Read More
- Five stocks we like better than Exact Sciences
- Compound Interest and Why It Matters When Investing
- MP Materials: Rare Earth Elements Powering the EV Boom
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- Verizon’s Turnaround Gains Traction: New Highs Are Likely in 2025
- Profitably Trade Stocks at 52-Week Highs
- Bloom Energy: Powering the Future With Decentralized Energy
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.