Bellevue Group AG Raises Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Bellevue Group AG raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 25.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,449,465 shares of the medical research company’s stock after buying an additional 290,585 shares during the quarter. Exact Sciences comprises approximately 1.6% of Bellevue Group AG’s portfolio, making the stock its 18th biggest position. Bellevue Group AG’s holdings in Exact Sciences were worth $98,738,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EXAS. Huntington National Bank increased its stake in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences during the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Exact Sciences during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $35,000. Finally, Vestor Capital LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $46,000. Institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company began coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. TD Cowen lifted their price target on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein increased their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.29.

Insider Transactions at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Baranick sold 929 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. This trade represents a 6.36 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $62.08 on Friday. The stock’s 50-day simple moving average is $63.85 and its two-hundred day simple moving average is $56.02. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts forecast that Exact Sciences Co. will post -1.13 earnings per share for the current year.

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.