Exact Sciences Corporation $EXAS Shares Sold by Bellevue Group AG

Bellevue Group AG cut its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 50.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284,201 shares of the medical research company’s stock after selling 294,873 shares during the quarter. Bellevue Group AG owned 0.15% of Exact Sciences worth $15,102,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. True Wealth Design LLC grew its stake in Exact Sciences by 951.8% in the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 533 shares during the period. Country Trust Bank acquired a new position in Exact Sciences during the second quarter worth $32,000. Bessemer Group Inc. lifted its holdings in Exact Sciences by 1,980.6% during the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 614 shares in the last quarter. National Pension Service grew its position 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 valued at $29,000 after purchasing an additional 292 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of Exact Sciences in the first quarter valued at about $30,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jacob A. Orville sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the transaction, the executive vice president directly owned 23,237 shares in the company, valued at $1,742,775. The trade was a 17.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,858 shares of company stock valued at $695,289 in the last quarter. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EXAS shares. Citigroup lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, November 20th. Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Stifel Nicolaus restated a “hold” rating and issued a $105.00 target price (up previously from $80.00) on shares of Exact Sciences in a research report on Friday, November 28th. Baird R W lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Robert W. Baird set a $105.00 price objective on Exact Sciences in a research note on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.00.

Exact Sciences Stock Performance

Exact Sciences stock opened at $101.50 on Friday. The firm has a 50 day simple moving average of $77.03 and a 200-day simple moving average of $60.23. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of -19.08, a price-to-earnings-growth ratio of 12.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $101.95.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.21) earnings per share. On average, analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current year.

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.