Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. reduced its stake in Exact Sciences Co. (NASDAQ:EXAS) by 79.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,005 shares of the medical research company’s stock after selling 26,980 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Exact Sciences were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Eagle Wealth Strategies LLC grew its stake in Exact Sciences by 25.0% during the 4th quarter. Eagle Wealth Strategies LLC now owns 5,000 shares of the medical research company’s stock worth $281,000 after buying an additional 1,000 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Exact Sciences by 139.6% in the 4th quarter. Artemis Investment Management LLP now owns 255,842 shares of the medical research company’s stock worth $14,376,000 after acquiring an additional 149,067 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Exact Sciences in the 4th quarter valued at about $327,000. Merit Financial Group LLC acquired a new position in Exact Sciences during the 4th quarter valued at about $235,000. Finally, Avanza Fonder AB bought a new position in Exact Sciences in the 4th quarter worth about $1,096,000. 88.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EXAS shares. Barclays assumed coverage on Exact Sciences in a research report on Thursday. They set an “overweight” rating and a $70.00 price objective for the company. Robert W. Baird reduced their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Citigroup decreased their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.76.

Insider Transactions at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase 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. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Up 0.6 %

Shares of NASDAQ:EXAS opened at $55.13 on Friday. The firm has a 50 day simple moving average of $57.41 and a 200 day simple moving average of $59.32. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The company has a market cap of $10.20 billion, a PE ratio of -47.12 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly 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). The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts expect that Exact Sciences Co. will post -1.1 earnings per share for the current year.

Exact Sciences Company 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.