Exact Sciences Co. (NASDAQ:EXAS) Position Cut by Lipe & Dalton

Lipe & Dalton decreased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,020 shares of the medical research company’s stock after selling 1,000 shares during the period. Lipe & Dalton’s holdings in Exact Sciences were worth $451,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EXAS. Huntington National Bank increased its position in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences in the third quarter worth about $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences in the third quarter worth $46,000. Finally, Asset Planning Inc acquired a new position in shares of Exact Sciences during the 4th quarter worth about $40,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Down 0.5 %

EXAS stock opened at $49.26 on Friday. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of -8.84 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The business’s 50 day moving average price is $54.91 and its two-hundred day moving average price is $59.99.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 37.29%. As a group, analysts forecast that Exact Sciences Co. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of recent research reports. Barclays cut their target price on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday. Evercore ISI dropped their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. BTIG Research raised their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Citigroup lowered their price target on 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, Jefferies Financial Group boosted their price objective on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

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.