Advisors Asset Management Inc. Cuts Position in Exact Sciences Corporation $EXAS

Advisors Asset Management Inc. reduced its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 31.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,682 shares of the medical research company’s stock after selling 9,480 shares during the period. Advisors Asset Management Inc.’s holdings in Exact Sciences were worth $1,099,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service lifted its stake in shares of Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 292 shares during the period. SVB Wealth LLC purchased a new position in Exact Sciences in the first quarter valued at about $30,000. True Wealth Design LLC lifted its position in shares of Exact Sciences by 951.8% during the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 533 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Exact Sciences during the 1st quarter worth approximately $34,000. Finally, Bessemer Group Inc. boosted its stake in shares of Exact Sciences by 1,980.6% during the 2nd quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock worth $34,000 after acquiring an additional 614 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the transaction, the director owned 57,962 shares in the company, valued at $3,477,720. This trade represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jacob A. Orville sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the executive vice president directly owned 23,237 shares of the company’s stock, valued at $1,742,775. This represents a 17.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,858 shares of company stock worth $695,289. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cowen cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Evercore ISI lifted their price target on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Robert W. Baird set a $105.00 price objective on shares of Exact Sciences in a research report on Thursday, November 20th. Piper Sandler cut shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective on the stock. in a research note on Monday, November 24th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $105.00 target price (up previously from $85.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.00.

Exact Sciences Price Performance

EXAS stock opened at $101.35 on Monday. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of -18.66, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $101.87. The stock’s fifty day simple moving average is $67.66 and its 200-day simple moving average is $57.16.

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

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.