Bank of Montreal Can Lowers Stock Holdings in Exact Sciences Corporation $EXAS

Bank of Montreal Can decreased its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 88.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,988 shares of the medical research company’s stock after selling 1,447,272 shares during the period. Bank of Montreal Can’s holdings in Exact Sciences were worth $9,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Larson Financial Group LLC lifted its stake in Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after buying an additional 589 shares in the last quarter. Bessemer Group Inc. boosted its stake in Exact Sciences by 1,980.6% during the 2nd quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock worth $34,000 after purchasing an additional 614 shares during the last quarter. National Pension Service lifted its stake in shares of Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after buying an additional 292 shares in the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences during the first quarter worth about $30,000. Finally, Banque Cantonale Vaudoise purchased a new position in Exact Sciences in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

EXAS has been the topic of a number of recent research reports. UBS Group lowered their price objective on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Craig Hallum lifted their target price on shares of Exact Sciences from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Robert W. Baird increased their price target on shares of Exact Sciences from $72.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Wells Fargo & Company lifted their price target on shares of Exact Sciences from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Guggenheim increased their price objective on Exact Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.44.

Exact Sciences Stock Down 1.5%

Shares of NASDAQ EXAS opened at $66.18 on Monday. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $58.09 and its two-hundred day moving average is $53.53. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $72.81. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of -12.19, a PEG ratio of 5.56 and a beta of 1.34.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) earnings per share. Exact Sciences has set its FY 2025 guidance at EPS. Research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Activity

In related news, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president owned 22,368 shares in the company, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the director directly owned 57,962 shares in the company, valued at approximately $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 6,343 shares of company stock valued at $382,688. 1.20% of the stock is currently owned by corporate insiders.

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.