IHT Wealth Management LLC Invests $305,000 in Exact Sciences Co. (NASDAQ:EXAS)

IHT Wealth Management LLC purchased a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,482 shares of the medical research company’s stock, valued at approximately $305,000.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank increased its position in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences in the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP bought a new position in Exact Sciences in the 3rd quarter valued at about $35,000. Vestor Capital LLC bought a new position in Exact Sciences in the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC bought a new position in Exact Sciences in the 3rd quarter valued at about $47,000. 88.82% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 13,687 shares in the company, valued at $958,090. This represents a 6.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by corporate insiders.

Exact Sciences Stock Performance

EXAS opened at $61.80 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The company’s fifty day moving average price is $63.16 and its two-hundred day moving average price is $56.47. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a market cap of $11.44 billion, a price-to-earnings ratio of -52.82 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, analysts expect that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EXAS has been the subject of a number of research analyst reports. Craig Hallum lowered their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Citigroup reduced their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. BTIG Research boosted their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Finally, Stifel Nicolaus reduced their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.29.

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.