CFM Wealth Partners LLC Purchases New Position in Exact Sciences Co. (NASDAQ:EXAS)

CFM Wealth Partners LLC purchased a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,049 shares of the medical research company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXAS. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences during the second quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after acquiring an additional 179 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Exact Sciences by 92.4% in the 1st 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 in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Exact Sciences in the 1st quarter worth $55,000. Finally, GAMMA Investing LLC raised its holdings in shares of Exact Sciences by 48.4% in the second quarter. GAMMA Investing LLC now owns 1,362 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 444 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on EXAS. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Exact Sciences in a research report on Friday, September 13th. Stifel Nicolaus decreased their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. The Goldman Sachs Group cut their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Evercore ISI lifted their target price on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $69.95 on Wednesday. The firm has a market capitalization of $12.91 billion, a PE ratio of -52.99 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $63.75 and a two-hundred day moving average price of $56.56. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62.

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

Insider Buying and Selling

In other news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were 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 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is currently owned by insiders.

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.