Exact Sciences Co. (NASDAQ:EXAS) Shares Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC lifted its position in Exact Sciences Co. (NASDAQ:EXAS) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,027 shares of the medical research company’s stock after purchasing an additional 517 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Exact Sciences were worth $816,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Exact Sciences in the fourth quarter valued at approximately $47,037,000. Capital World Investors boosted its stake in shares of Exact Sciences by 17.2% in the first quarter. Capital World Investors now owns 5,487,009 shares of the medical research company’s stock valued at $383,652,000 after buying an additional 804,159 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Exact Sciences by 4.4% in the third quarter. Vanguard Group Inc. now owns 16,676,611 shares of the medical research company’s stock valued at $541,823,000 after buying an additional 698,740 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Exact Sciences by 11.8% in the third quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock valued at $270,254,000 after buying an additional 418,770 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Exact Sciences by 328.3% in the third quarter. Qube Research & Technologies Ltd now owns 540,191 shares of the medical research company’s stock valued at $36,852,000 after buying an additional 414,059 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Price Performance

NASDAQ EXAS traded down $0.33 on Tuesday, reaching $65.02. 1,193,303 shares of the stock traded hands, compared to its average volume of 2,283,005. The firm’s fifty day simple moving average is $63.33 and its 200 day simple moving average is $65.16. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The company has a market cap of $11.80 billion, a price-to-earnings ratio of -57.05 and a beta of 1.25. Exact Sciences Co. has a 12 month low of $56.05 and a 12 month high of $100.77.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.26. The firm had revenue of $646.89 million during the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted ($0.72) EPS. As a group, research analysts predict that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other news, General Counsel James Herriott sold 421 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $25,862.03. Following the completion of the sale, the general counsel now owns 6,494 shares in the company, valued at approximately $398,926.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel James Herriott sold 421 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $25,862.03. Following the completion of the sale, the general counsel now directly owns 6,494 shares in the company, valued at $398,926.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sarah Condella sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the executive vice president now owns 71,787 shares of the company’s stock, valued at $5,025,090. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,113 shares of company stock valued at $4,165,273. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EXAS. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Citigroup reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Exact Sciences in a research report on Wednesday, April 3rd. Canaccord Genuity Group lowered their price target on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Benchmark raised Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.44.

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.