EXACT Sciences Co. (NASDAQ:EXAS) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 587,897 shares of the medical research company’s stock after selling 468 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.39% of EXACT Sciences worth $51,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in shares of EXACT Sciences by 13.5% in the 2nd quarter. Parallel Advisors LLC now owns 901 shares of the medical research company’s stock valued at $78,000 after buying an additional 107 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of EXACT Sciences by 18.8% in the 1st quarter. CSat Investment Advisory L.P. now owns 826 shares of the medical research company’s stock valued at $48,000 after buying an additional 131 shares during the last quarter. Curbstone Financial Management Corp grew its position in shares of EXACT Sciences by 0.7% in the 2nd quarter. Curbstone Financial Management Corp now owns 21,150 shares of the medical research company’s stock valued at $1,839,000 after buying an additional 150 shares during the last quarter. Beech Hill Advisors Inc. grew its position in shares of EXACT Sciences by 0.6% in the 2nd quarter. Beech Hill Advisors Inc. now owns 28,710 shares of the medical research company’s stock valued at $2,496,000 after buying an additional 175 shares during the last quarter. Finally, Verus Capital Partners LLC grew its position in shares of EXACT Sciences by 40.7% in the 1st quarter. Verus Capital Partners LLC now owns 691 shares of the medical research company’s stock valued at $40,000 after buying an additional 200 shares during the last quarter. 86.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:EXAS opened at $94.75 on Friday. The firm’s 50-day simple moving average is $90.52 and its 200-day simple moving average is $81.95. The company has a quick ratio of 5.81, a current ratio of 6.09 and a debt-to-equity ratio of 0.64. EXACT Sciences Co. has a fifty-two week low of $35.25 and a fifty-two week high of $123.31.

EXACT Sciences (NASDAQ:EXAS) last issued its earnings results on Thursday, July 30th. The medical research company reported ($0.58) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. The business had revenue of $268.87 million for the quarter, compared to the consensus estimate of $229.62 million. EXACT Sciences had a negative net margin of 13.65% and a negative return on equity of 14.49%. Equities research analysts expect that EXACT Sciences Co. will post -1.63 EPS for the current fiscal year.

In related news, CFO Jeffrey Thomas Elliott sold 8,746 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $95.58, for a total value of $835,942.68. Following the completion of the sale, the chief financial officer now owns 59,109 shares in the company, valued at $5,649,638.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katherine S. Zanotti sold 1,164 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $96.13, for a total transaction of $111,895.32. Following the completion of the sale, the director now owns 41,907 shares of the company’s stock, valued at approximately $4,028,519.91. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

A number of research firms recently commented on EXAS. UBS Group dropped their target price on shares of EXACT Sciences from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. BidaskClub raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research report on Friday, July 17th. Canaccord Genuity lowered their price objective on shares of EXACT Sciences from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. SVB Leerink raised their price objective on shares of EXACT Sciences from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Benchmark raised their price objective on shares of EXACT Sciences from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Eighteen investment analysts have rated the stock with a buy rating, EXACT Sciences currently has an average rating of “Buy” and a consensus price target of $105.80.

EXACT Sciences Company Profile

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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