Silvant Capital Management LLC Decreases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Silvant Capital Management LLC lowered its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,438 shares of the medical research company’s stock after selling 408 shares during the period. Silvant Capital Management LLC’s holdings in Exact Sciences were worth $984,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Exact Sciences during the 3rd quarter worth $47,000. Itau Unibanco Holding S.A. purchased a new stake in Exact Sciences during the second quarter worth about $29,000. EverSource Wealth Advisors LLC raised its position in Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after acquiring an additional 340 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exact Sciences in the third quarter valued at about $49,000. Finally, EntryPoint Capital LLC bought a new position in shares of Exact Sciences during the 1st quarter valued at approximately $67,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $69.80 on Friday. The company’s 50 day simple moving average is $66.81 and its two-hundred day simple moving average is $56.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The stock has a market capitalization of $12.90 billion, a PE ratio of -72.71 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. During the same quarter last year, the business posted ($0.45) earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. Analysts predict that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EXAS shares. Piper Sandler lifted their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Sanford C. Bernstein upped their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective on the stock. Finally, Evercore ISI increased their target price on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.64.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

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.