Geode Capital Management LLC Buys 7,873 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Geode Capital Management LLC increased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,105,970 shares of the medical research company’s stock after buying an additional 7,873 shares during the quarter. Geode Capital Management LLC’s holdings in Exact Sciences were worth $211,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Chicago Partners Investment Group LLC boosted its stake in shares of Exact Sciences by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after buying an additional 158 shares during the last quarter. Amalgamated Bank boosted its position in Exact Sciences by 2.7% in the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after purchasing an additional 284 shares during the last quarter. Huntington National Bank grew its stake in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. CIBC Asset Management Inc increased its position in shares of Exact Sciences by 6.2% during the 2nd quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock valued at $258,000 after purchasing an additional 356 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Exact Sciences by 1.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock worth $1,952,000 after purchasing an additional 402 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were 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 directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. The trade was a 6.36 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Exact Sciences Trading Down 2.0 %

Shares of Exact Sciences stock opened at $61.25 on Monday. The company’s 50-day moving average price is $62.73 and its 200-day moving average price is $56.87. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a market cap of $11.34 billion, a price-to-earnings ratio of -52.35 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America reduced their price target on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Friday. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. TD Cowen upped their price objective on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Evercore ISI decreased their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company assumed coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $72.94.

Exact Sciences Profile

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.