Fisher Asset Management LLC Sells 27,925 Shares of Exact Sciences Corporation $EXAS

Fisher Asset Management LLC trimmed its position in Exact Sciences Corporation (NASDAQ:EXAS) by 15.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 158,029 shares of the medical research company’s stock after selling 27,925 shares during the period. Fisher Asset Management LLC owned about 0.08% of Exact Sciences worth $8,398,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXAS. National Pension Service lifted its stake in shares of Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 292 shares during the period. SVB Wealth LLC bought a new stake in Exact Sciences during the 1st quarter worth about $30,000. True Wealth Design LLC lifted its position in 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 purchasing an additional 533 shares during the period. Country Trust Bank bought a new position in shares of Exact Sciences in the 2nd quarter valued at about $32,000. Finally, Bessemer Group Inc. grew its position 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 buying an additional 614 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Craig Hallum lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Friday, November 21st. Evercore ISI increased their price target on Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Robert W. Baird set a $105.00 price objective on Exact Sciences in a research note on Thursday, November 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Finally, Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.00.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $101.25 on Thursday. The stock’s fifty day simple moving average is $70.55 and its 200 day simple moving average is $58.09. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $19.18 billion, a PE ratio of -19.03, a PEG ratio of 12.49 and a beta of 1.42. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $101.87.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.11. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The company had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same period in the prior year, the company earned ($0.21) earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the firm’s 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 sale, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. This trade represents a 11.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director owned 57,962 shares of the company’s stock, valued at $3,477,720. This trade represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,858 shares of company stock worth $695,289. Company insiders own 1.20% of the company’s stock.

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.