IMA Wealth Inc. reduced its holding of Exact Sciences Co. (NASDAQ: EXAS – Get Rating) by 6.5% during the third quarter, according to a recent disclosure to the SEC. Institutional investors owned 27,485 shares of the medical research company after selling 1,902 shares during the period. IMA Wealth Inc.’s Exact Sciences holdings were valued at $893,000 as of the latest SEC filing.
Other institutional investors and hedge funds have also recently changed positions in the company. Steward Partners Investment Advisory LLC increased his stake in Exact Sciences by 44.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 667 shares of the medical research company worth $26,000 after acquiring an additional 205 shares during the previous quarter. Signaturefd LLC increased his Exact Sciences stake by 45.7% in the third quarter. Signaturefd LLC now owns 957 shares of the medical research company worth $31,000 after purchasing an additional 300 of his shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased new shares in his Exact Sciences worth approximately $33,000 in the third quarter. National Bank of Canada FI increased its Exact Sciences holdings by 72.6% in the third quarter. National Bank of Canada FI now owns 1,189 shares of the medical research company worth $39,000 after purchasing an additional 500 shares during this period. Finally, Northern Oak Wealth Management Inc. increased its Exact Sciences holding by 33.8% in the second quarter. Northern Oak Wealth Management now owns 1,585 shares of the medical research company valued at $62,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s shares.
Exact Sciences stock performance
NASDAQ EXAS shares fell $1.74 in midday trading on Friday to reach $62.98. The company had a trading volume of 867,104 shares and an average trading volume of 2,682,067 shares for him. His 50-day simple moving average for this business is $63.45 and his 200-day simple moving average is $47.86. His one-year low at Exact Sciences Co. is $29.27 and his one-year high is $76.94. The company has a current ratio of 2.38, a quick ratio of 2.09 and a debt to equity ratio of 0.73.
Exact Sciences (NASDAQ:EXAS – Get Rating) last released quarterly earnings data on Tuesday, February 21. The medical research firm reported his earnings per share for the quarter ($0.72), beating analyst consensus expectations ($0.90) by $0.18. The company made $553 million in revenue for the quarter, while analyst estimates put him at $525.61 million. Exact Sciences had a net profit margin of 29.92% and a return on equity of 19.76%. Quarterly revenue for this business increased by 16.7% compared to the same period last year. In the same quarter last year, the business earned his earnings per share ($1.28). On average, equity research analysts expect Exact Sciences Co. to see his earnings per share fall by -2.73 this year.
Wall Street analyst opinion
EXAS has been the subject of several recent research reports. Piper Sandler raised his price target on Exact Sciences from her $50.00 to her $70.00 in a report on Friday, March 3, giving the company a “neutral” rating. Craig Hallum raised his price target on Exact Sciences stock to $55.00 from his $44.00 in a report on Wednesday, Feb. 22. Robert W. Baird raised his price target on Exact Sciences from $89.00 to $92.00, giving the company an “outperform” rating, in a report on Wednesday, Feb. 22. In a research report on Thursday, January 12, SVB Leerink raised his price target for Exact Sciences to $75.00 from $70.00, giving the company an “excellent” rating. Finally, Raymond James downgraded Exact Sciences’ stock from an “outperform” rating to a “market his perform” rating in a research report on Wednesday, Jan. 18. Five investment analysts rated the stock as a hold and eight rated it as a buy. According to MarketBeat.com data, the stock currently has a consensus rating of “moderate buy” with an average target price of $72.43.
Insider Trading at Exact Sciences
In other news, CEO Kevin T. Conroy sold 14,617 shares of stock on Wednesday, February 15th. The shares sold at an average price of $65.59, giving him a total of $958,729.03. After the sale, the CEO now owns 1,189,620 of his shares worth $78,027,175.80. The transaction is disclosed in documents filed with the Securities and Exchange Commission and can be accessed via this hyperlink. In related news, CEO Kevin T. Conroy sold 14,617 shares of the company in a deal on Wednesday, Feb. 15. The shares sold for an average of $65.59, and the total transaction value he had was $958,729.03. After the sale, the CEO now owns 1,189,620 of his shares worth $78,027,175.80. The transaction was disclosed in documents filed with the SEC and can be accessed at this link. Also, CEO Kevin T. Conroy sold 10,416 shares of the company in a transaction on Tuesday, February 28th. The shares sold at an average price of $61.12 for a total transaction value of $636,625.92. After the sale, the CEO now owns 1,207,306 shares in the company, valued at approximately $73,790,542.72. Please see here for the disclosure of this sale. The insider said that in the past 90 days he has sold 62,126 shares of company stock worth $3,915,586. His 1.30% of the shares are now owned by insiders.
About Exact Science
EXACT Sciences Corp. is a cancer screening and diagnostics company. The company focuses on early detection and prevention of certain types of cancer. The company offers a non-invasive screening test called Cologuard for the early detection of colorectal and precancer and Oncotype DX. The company was founded on February 10, 1995 and is headquartered in Madison, Wisconsin.
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