Focus Partners Advisor Solutions LLC Buys New Position in Exact Sciences Corporation $EXAS

Focus Partners Advisor Solutions LLC bought a new stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 8,316 shares of the medical research company’s stock, valued at approximately $442,000.

Several other hedge funds have also modified their holdings of the stock. Great Lakes Advisors LLC raised its holdings in shares of Exact Sciences by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock valued at $215,000 after buying an additional 178 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Exact Sciences by 0.8% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company’s stock valued at $971,000 after buying an additional 187 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Exact Sciences by 0.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 58,333 shares of the medical research company’s stock valued at $3,127,000 after buying an additional 217 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Exact Sciences by 0.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company’s stock valued at $4,367,000 after buying an additional 270 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Exact Sciences by 6.5% during the 2nd quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company’s stock valued at $237,000 after buying an additional 273 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exact Sciences

In other news, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares in the company, valued at approximately $3,477,720. The trade was a 3.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Exact Sciences Price Performance

EXAS opened at $63.22 on Friday. The company has a 50-day moving average of $55.61 and a 200-day moving average of $52.37. The company has a market capitalization of $11.97 billion, a P/E ratio of -11.64, a PEG ratio of 5.56 and a beta of 1.24. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.24. The company had revenue of $811.09 million during the quarter, compared to the consensus estimate of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) EPS. Equities analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EXAS shares. Wall Street Zen upgraded Exact Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Craig Hallum raised their target price on Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Barclays raised their target price on Exact Sciences from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. UBS Group dropped their price objective on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.90.

Exact Sciences 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.