Captrust Financial Advisors Acquires 1,854 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Captrust Financial Advisors lifted its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 24.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,433 shares of the medical research company’s stock after purchasing an additional 1,854 shares during the quarter. Captrust Financial Advisors’ holdings in Exact Sciences were worth $643,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EXAS. WCM Investment Management LLC increased its holdings in Exact Sciences by 1,153.2% during the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after buying an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in Exact Sciences by 67.5% during the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after buying an additional 11,800 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after purchasing an additional 55,459 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after purchasing an additional 125,192 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Exact Sciences by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after purchasing an additional 45,015 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $63.16 on Thursday. The company has a market cap of $11.69 billion, a price-to-earnings ratio of -53.98 and a beta of 1.24. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $62.95 and a 200-day moving average of $56.60.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Exact Sciences Co. will post -1.13 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on EXAS shares. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, November 21st. Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Stifel Nicolaus reduced their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein boosted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and an average price target of $75.29.

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.