Bamco Inc. NY Boosts Stock Holdings in Exact Sciences Corporation $EXAS

Bamco Inc. NY grew its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 26.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,861,341 shares of the medical research company’s stock after purchasing an additional 388,627 shares during the quarter. Bamco Inc. NY owned approximately 0.98% of Exact Sciences worth $98,912,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after buying an additional 533 shares during the period. Country Trust Bank bought a new position in shares of Exact Sciences in the 2nd quarter worth $32,000. Bessemer Group Inc. lifted 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 purchasing an additional 614 shares during the last quarter. National Pension Service boosted its position in 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 purchasing an additional 292 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in Exact Sciences during the first quarter valued at about $30,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James Edward Doyle sold 2,000 shares of the 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 sale, the director owned 57,962 shares in the company, valued at $3,477,720. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,567,549.44. This represents a 11.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,858 shares of company stock valued at $695,289 in the last ninety days. Insiders own 1.20% of the company’s stock.

Exact Sciences Stock Up 0.1%

Shares of EXAS stock opened at $101.50 on Friday. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $101.95. The firm has a market capitalization of $19.23 billion, a PE ratio of -19.08, a P/E/G ratio of 12.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72. The stock’s 50-day simple moving average is $77.03 and its 200-day simple moving average is $60.23.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $850.74 million for the quarter, compared to analyst estimates of $810.42 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. Exact Sciences’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXAS has been the topic of a number of recent analyst reports. TD Cowen cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and raised their target price for the company from $90.00 to $105.00 in a research note on Monday, November 24th. Citigroup lowered Exact Sciences from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $105.00 target price (up from $85.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Finally, Guggenheim cut Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.00.

About Exact Sciences

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.