Cerity Partners LLC Raises Holdings in Exact Sciences Corporation (NASDAQ:EXAS)

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

Several other large investors also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC raised its position in Exact Sciences by 0.3% in the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company’s stock valued at $4,367,000 after purchasing an additional 270 shares during the period. Allworth Financial LP lifted its position in Exact Sciences by 14.3% during the 1st quarter. Allworth Financial LP now owns 2,986 shares of the medical research company’s stock worth $136,000 after acquiring an additional 373 shares during the period. Integrated Advisors Network LLC boosted its holdings in shares of Exact Sciences by 5.7% in the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company’s stock valued at $305,000 after acquiring an additional 379 shares in the last quarter. Curi RMB Capital LLC grew its holdings in Exact Sciences by 1.7% during the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company’s stock worth $1,399,000 after acquiring an additional 428 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Exact Sciences by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 80,216 shares of the medical research company’s stock valued at $4,507,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the business’s stock in a transaction that occurred on 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 directly owned 72,759 shares of the company’s stock, valued at $3,870,778.80. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EXAS. 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 for the company. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Robert W. Baird upped their price target on Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Evercore ISI raised their price objective on shares of Exact Sciences from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Barclays lowered their price objective on Exact Sciences from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Exact Sciences Stock Down 4.2%

Exact Sciences stock opened at $48.36 on Tuesday. The company has a 50-day simple moving average of $54.33 and a 200-day simple moving average of $50.84. The firm has a market capitalization of $9.12 billion, a P/E ratio of -8.78, a P/E/G 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 Corporation has a one year low of $39.97 and a one year high of $72.83.

Exact Sciences (NASDAQ:EXAS) last announced 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. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The firm had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same quarter last year, the firm posted ($0.60) EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

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.