Exact Sciences Corporation $EXAS Stock Position Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 31.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,909,501 shares of the medical research company’s stock after buying an additional 939,888 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.07% of Exact Sciences worth $213,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great Lakes Advisors LLC raised its stake in shares of Exact Sciences by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock worth $215,000 after buying an additional 178 shares in the last quarter. Capital Asset Advisory Services LLC grew its holdings in Exact Sciences by 4.8% during the third quarter. Capital Asset Advisory Services LLC now owns 3,941 shares of the medical research company’s stock worth $216,000 after acquiring an additional 182 shares during the period. DekaBank Deutsche Girozentrale raised its position in Exact Sciences by 0.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 58,333 shares of the medical research company’s stock worth $3,127,000 after acquiring an additional 217 shares in the last quarter. IFP Advisors Inc lifted its holdings in Exact Sciences by 6.5% in the 2nd quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 273 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Exact Sciences by 37.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,018 shares of the medical research company’s stock valued at $54,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EXAS. Wolfe Research cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Leerink Partnrs cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Benchmark lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Canaccord Genuity Group downgraded Exact Sciences from a “buy” rating to a “hold” rating and increased their price objective for the company from $85.00 to $105.00 in a research report on Tuesday, November 25th. Finally, Evercore ISI set a $105.00 target price on Exact Sciences and gave the stock an “in-line” rating in a report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Hold” and an average target price of $89.56.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the executive vice president owned 23,237 shares of the company’s stock, valued at $1,742,775. The trade was a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president owned 22,368 shares in the company, valued at $1,567,549.44. This represents a 11.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.20% of the company’s stock.

Exact Sciences Trading Up 0.1%

Exact Sciences stock opened at $102.43 on Tuesday. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $102.66. 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 firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of -19.25, a P/E/G ratio of 2.42 and a beta of 1.40. The company has a 50 day moving average price of $97.23 and a 200 day moving average price of $69.05.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 1.67% and a negative net margin of 32.01%.The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Research analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.