Principal Financial Group Inc. reduced its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,661 shares of the medical research company’s stock after selling 3,436 shares during the quarter. Principal Financial Group Inc. owned approximately 0.10% of EXACT Sciences worth $5,780,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Aperio Group LLC acquired a new position in EXACT Sciences during the 2nd quarter worth about $252,000. Russell Investments Group Ltd. lifted its stake in EXACT Sciences by 46.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 175,026 shares of the medical research company’s stock worth $6,190,000 after acquiring an additional 55,544 shares in the last quarter. Sei Investments Co. acquired a new position in EXACT Sciences during the 2nd quarter worth about $1,548,000. IFP Advisors Inc raised its position in EXACT Sciences by 315.5% in the 2nd quarter. IFP Advisors Inc now owns 13,850 shares of the medical research company’s stock valued at $490,000 after purchasing an additional 10,517 shares in the last quarter. Finally, Pioneer Investment Management Inc. raised its position in EXACT Sciences by 579.7% in the 2nd quarter. Pioneer Investment Management Inc. now owns 425,242 shares of the medical research company’s stock valued at $15,041,000 after purchasing an additional 362,683 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

In other EXACT Sciences news, insider Kevin T. Conroy sold 121,849 shares of EXACT Sciences stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $53.45, for a total value of $6,512,829.05. Following the transaction, the insider now directly owns 951,901 shares in the company, valued at approximately $50,879,108.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Graham Peter Lidgard sold 45,770 shares of EXACT Sciences stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $58.27, for a total value of $2,667,017.90. Following the completion of the transaction, the insider now owns 237,820 shares in the company, valued at $13,857,771.40. The disclosure for this sale can be found here. Insiders have sold a total of 595,396 shares of company stock worth $32,953,769 in the last 90 days. 4.00% of the stock is currently owned by company insiders.

A number of research firms have issued reports on EXAS. BidaskClub lowered EXACT Sciences from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Bank of America increased their price target on EXACT Sciences from $58.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Leerink Swann reaffirmed an “outperform” rating and issued a $67.00 price target (up previously from $63.00) on shares of EXACT Sciences in a research report on Monday, November 13th. Robert W. Baird lowered EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research report on Monday, November 13th. Finally, Zacks Investment Research lowered EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $50.58.

EXACT Sciences Co. (NASDAQ EXAS) opened at $53.83 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.34 and a quick ratio of 9.98. EXACT Sciences Co. has a 12 month low of $13.05 and a 12 month high of $63.60.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The firm had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The firm’s quarterly revenue was up 158.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.36) EPS. analysts predict that EXACT Sciences Co. will post -1.12 earnings per share for the current year.

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EXACT Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.

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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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