EXACT Sciences Co. (EXAS) Position Cut by Creative Planning

Creative Planning reduced its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 7.1% in the 4th quarter, Holdings Channel reports. The firm owned 53,306 shares of the medical research company’s stock after selling 4,062 shares during the quarter. Creative Planning’s holdings in EXACT Sciences were worth $2,801,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EXAS. Legal & General Group Plc increased its position in EXACT Sciences by 17.4% during the second quarter. Legal & General Group Plc now owns 42,336 shares of the medical research company’s stock worth $1,498,000 after purchasing an additional 6,273 shares during the last quarter. Prudential Financial Inc. increased its position in EXACT Sciences by 9.1% during the second quarter. Prudential Financial Inc. now owns 12,159 shares of the medical research company’s stock worth $430,000 after purchasing an additional 1,018 shares during the last quarter. Principal Financial Group Inc. increased its position in EXACT Sciences by 541.4% during the second quarter. Principal Financial Group Inc. now owns 126,097 shares of the medical research company’s stock worth $4,460,000 after purchasing an additional 106,438 shares during the last quarter. Wells Fargo & Company MN increased its position in EXACT Sciences by 59.3% during the second quarter. Wells Fargo & Company MN now owns 497,662 shares of the medical research company’s stock worth $17,602,000 after purchasing an additional 185,230 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in EXACT Sciences by 50.0% during the second quarter. Alliancebernstein L.P. now owns 236,240 shares of the medical research company’s stock worth $8,356,000 after purchasing an additional 78,770 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

EXACT Sciences Co. (NASDAQ:EXAS) opened at $48.49 on Tuesday. The company has a quick ratio of 9.98, a current ratio of 10.34 and a debt-to-equity ratio of 0.01. EXACT Sciences Co. has a 12 month low of $16.95 and a 12 month high of $63.60. The company has a market cap of $5,810.00, a P/E ratio of -42.17 and a beta of 0.68.

EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The business had revenue of $72.60 million during the quarter, compared to analyst estimates of $65.03 million. During the same quarter last year, the firm posted ($0.36) earnings per share. The business’s revenue for the quarter was up 158.4% compared to the same quarter last year. sell-side analysts expect that EXACT Sciences Co. will post -1.09 EPS for the current year.

In other news, insider Graham Peter Lidgard sold 45,775 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total value of $2,453,540.00. Following the completion of the transaction, the insider now owns 272,819 shares of the company’s stock, valued at $14,623,098.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP D Scott Coward sold 1,665 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total transaction of $87,479.10. Following the completion of the transaction, the senior vice president now directly owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The disclosure for this sale can be found here. In the last three months, insiders sold 735,835 shares of company stock valued at $40,961,278. Insiders own 4.00% of the company’s stock.

A number of equities research analysts have weighed in on the stock. William Blair reiterated a “buy” rating on shares of EXACT Sciences in a research report on Wednesday, January 10th. Jefferies Group lifted their price target on shares of EXACT Sciences to $60.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird lifted their price target on shares of EXACT Sciences from $49.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Benchmark reiterated a “buy” rating and set a $60.00 price target (up from $50.00) on shares of EXACT Sciences in a research report on Tuesday, October 31st. Finally, Bank of America lifted their price target on shares of EXACT Sciences from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.64.

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About EXACT Sciences

Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.

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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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