Fisher Asset Management LLC Has $8.37 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Fisher Asset Management LLC decreased its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 22.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,902 shares of the medical research company’s stock after selling 36,302 shares during the quarter. Fisher Asset Management LLC’s holdings in Exact Sciences were worth $8,372,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EXAS. Huntington National Bank boosted its holdings in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences during the 2nd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at $46,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several analyst reports. Sanford C. Bernstein raised their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Benchmark lowered their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Craig Hallum lowered their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. TD Cowen raised their target price on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group raised their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.29.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $61.69 on Friday. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of -52.73 and a beta of 1.27. The business has a 50-day simple moving average of $64.20 and a 200 day simple moving average of $55.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results 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). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated 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 of the company’s stock, valued at $893,060. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

About Exact Sciences

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.