Cerity Partners LLC Buys 6,508 Shares of Exact Sciences Corporation (NASDAQ:EXAS)

Cerity Partners LLC lifted its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 24.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,598 shares of the medical research company’s stock after purchasing an additional 6,508 shares during the period. Cerity Partners LLC’s holdings in Exact Sciences were worth $1,454,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exact Sciences in the 1st quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Exact Sciences during the fourth quarter valued at $45,000. Ostrum Asset Management raised its holdings in Exact Sciences by 28.4% during the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company’s stock valued at $134,000 after buying an additional 527 shares during the period. Allworth Financial LP boosted its holdings in shares of Exact Sciences by 14.3% in the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 373 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in Exact Sciences in the fourth quarter valued at approximately $149,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading Down 4.2%

Shares of Exact Sciences stock opened at $48.36 on Tuesday. The firm has a 50-day simple moving average of $54.33 and a two-hundred day simple moving average of $50.84. Exact Sciences Corporation has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a market cap of $9.12 billion, a P/E ratio of -8.78, a price-to-earnings-growth ratio of 10.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to analysts’ expectations of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.60) EPS. As a group, equities analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the sale, the director owned 72,759 shares in the company, valued at $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EXAS shares. Mizuho initiated coverage on shares of Exact Sciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price objective on the stock. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Robert W. Baird upped their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Evercore ISI boosted their price objective on Exact Sciences from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their target price on Exact Sciences from $52.00 to $54.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

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.