Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 331,655 shares of the medical research company’s stock after selling 10,289 shares during the quarter. California Public Employees Retirement System owned 0.18% of Exact Sciences worth $24,536,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its position in Exact Sciences by 459.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after purchasing an additional 340 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in Exact Sciences in the third quarter valued at approximately $33,000. Cullen Frost Bankers Inc. grew its position in Exact Sciences by 40.0% in the third quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock valued at $48,000 after acquiring an additional 200 shares in the last quarter. Valley National Advisers Inc. grew its position in Exact Sciences by 29.5% in the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after acquiring an additional 176 shares in the last quarter. Finally, Milestone Investment Advisors LLC acquired a new stake in Exact Sciences in the third quarter valued at approximately $57,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

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

Exact Sciences Stock Performance

Shares of EXAS opened at $58.85 on Monday. The business’s fifty day moving average price is $63.44 and its 200 day moving average price is $64.93. Exact Sciences Co. has a 12-month low of $56.05 and a 12-month high of $100.77. The stock has a market capitalization of $10.68 billion, a PE ratio of -51.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07.

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

Insiders Place Their Bets

In other Exact Sciences news, insider Jacob A. Orville sold 966 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 value of $59,341.38. Following the sale, the insider now directly owns 7,488 shares of the company’s stock, valued at $459,987.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Exact Sciences news, insider Jacob A. Orville sold 966 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 value of $59,341.38. Following the sale, the insider now directly owns 7,488 shares of the company’s stock, valued at $459,987.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin T. Conroy sold 14,791 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 value of $908,611.13. Following the completion of the sale, the chief executive officer now directly owns 1,224,357 shares in the company, valued at $75,212,250.51. The disclosure for this sale can be found here. Insiders have sold 69,113 shares of company stock valued at $4,165,273 over the last three months. Company insiders own 1.30% of the company’s stock.

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.