EULAV Asset Management Reduces Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

EULAV Asset Management trimmed its position in Exact Sciences Co. (NASDAQ:EXAS) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,000 shares of the medical research company’s stock after selling 20,000 shares during the period. EULAV Asset Management’s holdings in Exact Sciences were worth $16,014,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EXAS. Geode Capital Management LLC raised its position in shares of Exact Sciences by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock valued at $211,104,000 after buying an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in Exact Sciences by 10.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after acquiring an additional 245,980 shares during the last quarter. Bellevue Group AG lifted its stake in shares of Exact Sciences by 25.1% during the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after purchasing an additional 290,585 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Exact Sciences by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock worth $88,017,000 after purchasing an additional 45,015 shares during the last quarter. Finally, Groupama Asset Managment purchased a new stake in shares of Exact Sciences in the third quarter valued at $821,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on EXAS shares. Evercore ISI lowered their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Canaccord Genuity Group dropped their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Sanford C. Bernstein increased their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lowered their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their target price 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. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.76.

Exact Sciences Stock Down 1.4 %

NASDAQ EXAS opened at $53.53 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 fifty-two week low of $40.62 and a fifty-two week high of $79.62. The business has a 50 day moving average price of $57.31 and a two-hundred day moving average price of $59.97. The stock has a market cap of $9.91 billion, a PE ratio of -45.75 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that Exact Sciences Co. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.36% of the stock is currently owned by corporate insiders.

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.