Baillie Gifford & Co. Lowers Holdings in Exact Sciences Corporation $EXAS

Baillie Gifford & Co. decreased its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 763,356 shares of the medical research company’s stock after selling 16,660 shares during the quarter. Baillie Gifford & Co. owned approximately 0.40% of Exact Sciences worth $41,763,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EXAS. True Wealth Design LLC increased 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 during the second quarter valued at approximately $32,000. Bessemer Group Inc. boosted its stake in shares of Exact Sciences by 1,980.6% during the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 614 shares in the last quarter. Parallel Advisors LLC increased its holdings in Exact Sciences by 120.1% during the second quarter. Parallel Advisors LLC now owns 799 shares of the medical research company’s stock valued at $42,000 after buying an additional 436 shares during the period. Finally, Quent Capital LLC bought a new position in Exact Sciences in the third quarter worth approximately $48,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EXAS shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $105.00 price target (up from $85.00) on shares of Exact Sciences in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research report on Thursday. Robert W. Baird set a $105.00 target price on Exact Sciences in a research note on Thursday, November 20th. Guggenheim lowered shares of Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $105.00 price objective (up previously from $80.00) on shares of Exact Sciences in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Exact Sciences has an average rating of “Hold” and a consensus target price of $89.56.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $102.26 on Friday. The company has a 50 day moving average price of $100.01 and a 200 day moving average price of $70.32. The firm has a market capitalization of $19.51 billion, a P/E ratio of -19.22, a PEG ratio of 2.41 and a beta of 1.40. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $102.66.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly 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. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The business 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 business posted ($0.21) EPS. Exact Sciences’s revenue for the quarter was up 20.0% compared to the same quarter last year. Sell-side analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insiders Place Their Bets

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

Exact Sciences Company 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.