Envestnet Asset Management Inc. Buys 10,770 Shares of Exact Sciences Corporation $EXAS

Envestnet Asset Management Inc. grew its position in Exact Sciences Corporation (NASDAQ:EXAS) by 4.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 259,305 shares of the medical research company’s stock after acquiring an additional 10,770 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Exact Sciences worth $14,187,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC boosted its stake in shares of Exact Sciences by 951.8% during the second 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 in the last quarter. Westside Investment Management Inc. raised its holdings in Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after buying an additional 271 shares during the last quarter. Country Trust Bank acquired a new stake in Exact Sciences during the 2nd quarter worth approximately $32,000. Bessemer Group Inc. grew its holdings in 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 during the last quarter. Finally, Quent Capital LLC acquired a new position in Exact Sciences in the 3rd quarter valued at approximately $48,000. Institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Guggenheim cut shares of Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Benchmark lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Craig Hallum downgraded Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, November 21st. Evercore set a $105.00 price objective on Exact Sciences and gave the stock an “in-line” rating in a research note on Monday, January 5th. Finally, Wells Fargo & Company reissued 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 investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Exact Sciences presently has a consensus rating of “Hold” and an average target price of $89.56.

Exact Sciences Stock Up 0.0%

EXAS stock opened at $103.24 on Tuesday. 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’s 50 day moving average is $102.15 and its 200 day moving average is $76.36. The stock has a market cap of $19.70 billion, a price-to-earnings ratio of -93.85, a price-to-earnings-growth ratio of 2.44 and a beta of 1.42. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $103.54.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). The company had revenue of $878.38 million for the quarter, compared to the consensus estimate of $860.59 million. Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Exact Sciences 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 transaction of $375,000.00. Following the sale, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

About Exact Sciences

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.