Analysts Expect EXACT Sciences Co. (EXAS) Will Post Quarterly Sales of $109.20 Million
Analysts forecast that EXACT Sciences Co. (NASDAQ:EXAS) will report $109.20 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for EXACT Sciences’ earnings. The highest sales estimate is $110.70 million and the lowest is $108.10 million. EXACT Sciences reported sales of $72.57 million during the same quarter last year, which indicates a positive year over year growth rate of 50.5%. The company is expected to issue its next quarterly earnings results on Monday, October 29th.
According to Zacks, analysts expect that EXACT Sciences will report full-year sales of $427.60 million for the current fiscal year, with estimates ranging from $425.00 million to $429.00 million. For the next year, analysts expect that the business will report sales of $661.57 million per share, with estimates ranging from $601.70 million to $700.05 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow EXACT Sciences.
EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. EXACT Sciences had a negative return on equity of 20.10% and a negative net margin of 35.24%. The firm had revenue of $102.89 million for the quarter, compared to analysts’ expectations of $104.40 million. During the same period in the prior year, the business posted ($0.27) earnings per share. The business’s revenue was up 78.5% compared to the same quarter last year.
In other EXACT Sciences news, SVP D Scott Coward sold 2,135 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $59.10, for a total value of $126,178.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael S. Wyzga sold 2,468 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $74.85, for a total value of $184,729.80. Following the completion of the transaction, the director now directly owns 9,112 shares in the company, valued at approximately $682,033.20. The disclosure for this sale can be found here. In the last three months, insiders sold 17,014 shares of company stock worth $1,031,717. Insiders own 3.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Asymmetry Capital Management L.P. boosted its stake in EXACT Sciences by 229.2% in the second quarter. Asymmetry Capital Management L.P. now owns 84,937 shares of the medical research company’s stock worth $5,078,000 after purchasing an additional 59,134 shares in the last quarter. Sit Investment Associates Inc. lifted its stake in shares of EXACT Sciences by 24.3% during the second quarter. Sit Investment Associates Inc. now owns 33,300 shares of the medical research company’s stock valued at $1,991,000 after acquiring an additional 6,500 shares during the period. Hartford Investment Management Co. acquired a new position in shares of EXACT Sciences during the second quarter valued at $202,000. Swiss National Bank lifted its stake in shares of EXACT Sciences by 1.4% during the second quarter. Swiss National Bank now owns 210,619 shares of the medical research company’s stock valued at $12,593,000 after acquiring an additional 3,000 shares during the period. Finally, Gofen & Glossberg LLC IL acquired a new position in shares of EXACT Sciences during the second quarter valued at $469,000. 86.40% of the stock is currently owned by institutional investors.
Shares of NASDAQ:EXAS opened at $77.60 on Wednesday. EXACT Sciences has a fifty-two week low of $37.36 and a fifty-two week high of $77.75. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of -78.38 and a beta of 0.95. The company has a current ratio of 15.79, a quick ratio of 15.37 and a debt-to-equity ratio of 0.87.
About EXACT Sciences
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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