Raymond James & Associates Trims Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Raymond James & Associates lessened its holdings in Exact Sciences Co. (NASDAQ:EXASGet Rating) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,398 shares of the medical research company’s stock after selling 11,353 shares during the period. Raymond James & Associates’ holdings in Exact Sciences were worth $2,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Exact Sciences by 44.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 667 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 205 shares in the last quarter. Ellevest Inc. lifted its holdings in shares of Exact Sciences by 103.6% in the second quarter. Ellevest Inc. now owns 682 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 347 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Exact Sciences in the third quarter valued at about $33,000. National Bank of Canada FI lifted its stake in shares of Exact Sciences by 72.6% during the third quarter. National Bank of Canada FI now owns 1,189 shares of the medical research company’s stock valued at $39,000 after buying an additional 500 shares during the period. Finally, Ronald Blue Trust Inc. purchased a new position in shares of Exact Sciences during the second quarter valued at approximately $91,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EXAS shares. Craig Hallum upped their price objective on shares of Exact Sciences from $35.00 to $44.00 in a research note on Monday, January 9th. Robert W. Baird reduced their price objective on shares of Exact Sciences from $75.00 to $60.00 in a research note on Friday, November 4th. SVB Leerink upped their price objective on shares of Exact Sciences from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, January 12th. Raymond James downgraded shares of Exact Sciences from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 18th. Finally, Citigroup dropped their price target on shares of Exact Sciences from $50.00 to $35.00 in a research report on Friday, November 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.57.

Exact Sciences Price Performance

Exact Sciences stock opened at $68.23 on Monday. Exact Sciences Co. has a 52-week low of $29.27 and a 52-week high of $84.31. The firm has a fifty day moving average of $50.46 and a 200-day moving average of $43.09. The firm has a market capitalization of $12.12 billion, a P/E ratio of -16.64 and a beta of 1.30. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXASGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The medical research company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.26. Exact Sciences had a negative net margin of 35.73% and a negative return on equity of 22.10%. The company had revenue of $523.07 million during the quarter, compared to analyst estimates of $500.78 million. As a group, analysts predict that Exact Sciences Co. will post -3.69 EPS for the current year.

Insider Transactions at Exact Sciences

In other news, EVP Sarah Condella sold 1,000 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. Following the completion of the transaction, the executive vice president now directly owns 85,090 shares in the company, valued at $5,105,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Exact Sciences Profile

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EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm 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 and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.

Further Reading

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

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