Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. reduced its position in Exact Sciences Co. (NASDAQ:EXAS) by 12.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,978 shares of the medical research company’s stock after selling 20,435 shares during the quarter. Exact Sciences makes up about 2.2% of Thompson Investment Management Inc.’s portfolio, making the stock its 4th largest position. Thompson Investment Management Inc.’s holdings in Exact Sciences were worth $13,613,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Park Place Capital Corp lifted its position in shares of Exact Sciences by 189.2% during the 1st quarter. Park Place Capital Corp now owns 376 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 246 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of Exact Sciences by 15,466.7% during the 1st quarter. TCI Wealth Advisors Inc. now owns 467 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 464 shares during the period. Ameritas Advisory Services LLC acquired a new position in Exact Sciences during the first quarter worth $32,000. Ahrens Investment Partners LLC acquired a new position in Exact Sciences during the first quarter worth $34,000. Finally, True Wealth Design LLC acquired a new position in Exact Sciences during the fourth quarter worth $30,000. 89.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EXAS has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Exact Sciences from $85.00 to $120.00 in a report on Thursday, June 22nd. Jefferies Financial Group increased their target price on shares of Exact Sciences from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. BTIG Research increased their target price on shares of Exact Sciences from $95.00 to $110.00 in a report on Thursday, June 22nd. The Goldman Sachs Group increased their target price on shares of Exact Sciences from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Piper Sandler increased their target price on shares of Exact Sciences from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Exact Sciences Stock Performance

NASDAQ:EXAS traded down $0.70 on Friday, reaching $76.68. 1,459,018 shares of the company’s stock were exchanged, compared to its average volume of 1,938,645. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.41 and a quick ratio of 2.14. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of -31.56 and a beta of 1.41. Exact Sciences Co. has a 52 week low of $29.27 and a 52 week high of $100.77. The stock has a fifty day simple moving average of $87.27 and a 200-day simple moving average of $79.63.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, August 1st. The medical research company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05. Exact Sciences had a negative net margin of 18.76% and a negative return on equity of 14.08%. The firm had revenue of $622.10 million for the quarter, compared to the consensus estimate of $601.14 million. During the same period in the prior year, the firm posted ($0.94) earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Exact Sciences Co. will post -1.9 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other news, insider Brian Baranick sold 1,350 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $85.04, for a total value of $114,804.00. Following the sale, the insider now directly owns 8,871 shares of the company’s stock, valued at $754,389.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Brian Baranick sold 1,350 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $85.04, for a total value of $114,804.00. Following the sale, the insider now directly owns 8,871 shares of the company’s stock, valued at $754,389.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Thomas Elliott sold 30,210 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $82.92, for a total transaction of $2,505,013.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,860 shares of company stock valued at $2,944,657. 1.30% of the stock is currently owned by corporate insiders.

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.