Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lowered its position in Exact Sciences Co. (NASDAQ:EXAS) by 55.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 28,870 shares of the medical research company’s stock after selling 36,242 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Exact Sciences were worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. WCM Investment Management LLC increased its stake in shares of Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after purchasing an additional 172,821 shares during the period. Simplify Asset Management Inc. increased its stake in shares of Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after purchasing an additional 11,800 shares during the period. Profund Advisors LLC increased its stake in shares of Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after purchasing an additional 55,459 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after purchasing an additional 125,192 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences in the second quarter valued at approximately $163,896,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on EXAS. The Goldman Sachs Group decreased their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, November 21st. Piper Sandler decreased their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Benchmark decreased their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company began coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective for the company. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $75.29.

Exact Sciences Stock Up 0.6 %

Shares of NASDAQ:EXAS opened at $62.08 on Friday. 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 $11.49 billion, a PE ratio of -53.06 and a beta of 1.27. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The firm has a 50 day simple moving average of $64.01 and a 200 day simple moving average of $55.97.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million during 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 business’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Exact Sciences Co. will post -1.13 earnings per share for the current year.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This 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 this link. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

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.