Kevin T. Conroy Sells 1,155 Shares of Exact Sciences Co. (NASDAQ:EXAS) Stock

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the sale, the chief executive officer now directly owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Exact Sciences Trading Up 2.5 %

Shares of EXAS stock opened at $62.07 on Friday. The company has a market cap of $11.41 billion, a PE ratio of -54.45 and a beta of 1.26. Exact Sciences Co. has a 1 year low of $56.05 and a 1 year high of $100.77. The stock’s 50 day simple moving average is $63.28 and its two-hundred day simple moving average is $64.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.26. The company had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. Exact Sciences’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.72) EPS. Research analysts predict that Exact Sciences Co. will post -0.86 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on EXAS. TheStreet lowered shares of Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, Citigroup restated a “buy” rating and set a $100.00 price objective on shares of Exact Sciences in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.44.

Institutional Investors Weigh In On Exact Sciences

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in Exact Sciences during the 4th quarter valued at about $120,308,000. Jennison Associates LLC grew its stake in shares of Exact Sciences by 94.0% during the fourth quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company’s stock valued at $100,681,000 after buying an additional 659,235 shares during the last quarter. Capital World Investors raised its holdings in shares of Exact Sciences by 7.8% in the fourth quarter. Capital World Investors now owns 7,468,145 shares of the medical research company’s stock worth $552,493,000 after buying an additional 539,498 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Exact Sciences by 12.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock worth $330,711,000 after acquiring an additional 508,764 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Exact Sciences by 328.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 540,191 shares of the medical research company’s stock valued at $36,852,000 after acquiring an additional 414,059 shares during the period. Institutional investors own 88.82% of the company’s stock.

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.