Toronto Dominion Bank Lowers Position in Exact Sciences Co. (NASDAQ:EXAS)

Toronto Dominion Bank trimmed its position in Exact Sciences Co. (NASDAQ:EXAS) by 99.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,628 shares of the medical research company’s stock after selling 2,994,169 shares during the period. Toronto Dominion Bank’s holdings in Exact Sciences were worth $1,610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new stake in shares of Exact Sciences during the 2nd quarter valued at $163,896,000. Geode Capital Management LLC lifted its position in Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock valued at $211,104,000 after acquiring an additional 7,873 shares during the period. Champlain Investment Partners LLC boosted its stake in Exact Sciences by 10.9% during the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock worth $169,924,000 after acquiring an additional 245,980 shares in the last quarter. Bellevue Group AG grew its holdings in Exact Sciences by 25.1% in the third 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. Finally, Armistice Capital LLC increased its stake in shares of Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Price Performance

Shares of EXAS opened at $61.25 on Monday. The firm has a fifty day simple moving average of $62.73 and a two-hundred day simple moving average of $56.87. The firm has a market cap of $11.34 billion, a PE ratio of -52.35 and a beta of 1.24. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to analysts’ expectations 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 was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Exact Sciences Co. will post -1.13 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy bought 19,500 shares of the firm’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EXAS shares. Canaccord Genuity Group dropped their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum cut their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company started coverage on Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Finally, Evercore ISI decreased their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.94.

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.