Public Employees Retirement System of Ohio Sells 8,728 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Public Employees Retirement System of Ohio trimmed its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 11.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,593 shares of the medical research company’s stock after selling 8,728 shares during the period. Public Employees Retirement System of Ohio’s holdings in Exact Sciences were worth $4,536,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Exact Sciences during the second quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in Exact Sciences in the 3rd quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences in the 3rd quarter valued at $35,000. Finally, Vestor Capital LLC bought a new position in shares of Exact Sciences during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EXAS. Bank of America lowered their target price on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday. TD Cowen increased their target price on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler decreased their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Wells Fargo & Company initiated coverage on Exact Sciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. Finally, Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.94.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on 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 $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 shares were purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.36% of the company’s stock.

Exact Sciences Trading Down 2.0 %

Shares of NASDAQ EXAS opened at $61.25 on Friday. 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 has a 50-day moving average of $62.73 and a two-hundred day moving average of $56.78. The company has a market cap of $11.34 billion, a PE ratio of -52.35 and a beta of 1.24. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates 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. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts expect that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

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.