Exact Sciences Corporation (NASDAQ:EXAS) Stock Position Lifted by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. increased its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 29.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,911 shares of the medical research company’s stock after purchasing an additional 13,476 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Exact Sciences were worth $2,594,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldstein Advisors LLC boosted its holdings in shares of Exact Sciences by 113.8% in the 1st quarter. Goldstein Advisors LLC now owns 12,254 shares of the medical research company’s stock valued at $530,000 after buying an additional 6,523 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Exact Sciences by 298.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 148,629 shares of the medical research company’s stock valued at $6,434,000 after acquiring an additional 111,343 shares during the period. Global Assets Advisory LLC acquired a new position in Exact Sciences in the first quarter valued at approximately $280,000. FORM Wealth Advisors LLC bought a new position in shares of Exact Sciences during the first quarter valued at approximately $342,000. Finally, Asset Management One Co. Ltd. raised its position in shares of Exact Sciences by 4.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 68,500 shares of the medical research company’s stock worth $2,965,000 after purchasing an additional 2,949 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $51.92 on Thursday. The stock has a market capitalization of $9.79 billion, a P/E ratio of -9.42, a P/E/G ratio of 38.85 and a beta of 0.98. The business has a 50-day moving average of $52.38 and a two-hundred day moving average of $51.64. Exact Sciences Corporation has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The company had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same quarter last year, the company posted ($0.60) earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Evercore ISI lifted their target price on Exact Sciences from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Robert W. Baird lifted their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Mizuho initiated coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $60.00 price target on the stock. Finally, Royal Bank Of Canada increased their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.40.

Insider Buying and Selling

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the sale, the director now directly owns 72,759 shares of the company’s stock, valued at $3,870,778.80. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

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.