Plato Investment Management Ltd Trims Stake in Exact Sciences Co. (NASDAQ:EXAS)

Plato Investment Management Ltd lessened its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,856 shares of the medical research company’s stock after selling 262 shares during the quarter. Plato Investment Management Ltd’s holdings in Exact Sciences were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Exact Sciences in the 3rd quarter worth approximately $35,000. Vestor Capital LLC purchased a new stake in shares of Exact Sciences in the third quarter worth $46,000. V Square Quantitative Management LLC bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $47,000. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences during the 2nd quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 buying an additional 340 shares during the period. Institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group lowered their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Benchmark lowered their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Sanford C. Bernstein boosted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI cut their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company began coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $74.47.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction 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 shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly 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 disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Up 0.4 %

NASDAQ EXAS opened at $50.93 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of -43.53 and a beta of 1.27. The company has a fifty day moving average of $66.02 and a two-hundred day moving average of $56.27.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Exact Sciences Co. will post -1.08 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.