Exact Sciences Corporation $EXAS Shares Purchased by Allworth Financial LP

Allworth Financial LP increased its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 130.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,871 shares of the medical research company’s stock after buying an additional 3,885 shares during the quarter. Allworth Financial LP’s holdings in Exact Sciences were worth $365,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Exact Sciences by 120.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock worth $135,453,000 after purchasing an additional 1,707,287 shares during the last quarter. Nuveen LLC acquired a new stake in Exact Sciences during the first quarter worth about $45,334,000. Price T Rowe Associates Inc. MD raised its stake in shares of Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock valued at $277,225,000 after buying an additional 643,631 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Exact Sciences by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock worth $763,535,000 after buying an additional 617,384 shares in the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in shares of Exact Sciences during the second quarter valued at $28,169,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $67.03 on Monday. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.81. The stock’s fifty day simple moving average is $59.84 and its two-hundred day simple moving average is $54.31. The stock has a market cap of $12.70 billion, a PE ratio of -12.34, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. The company had revenue of $850.74 million during the quarter, compared to analyst estimates of $810.42 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Exact Sciences has set its FY 2025 guidance at EPS. As a group, analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Activity

In related news, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brian Baranick sold 2,858 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the transaction, the executive vice president owned 22,368 shares in the company, valued at $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Piper Sandler boosted their price objective on Exact Sciences from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Robert W. Baird boosted their price objective on Exact Sciences from $72.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Guggenheim boosted their price target on shares of Exact Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen downgraded Exact Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.06.

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.