Grandfield & Dodd LLC Raises Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Grandfield & Dodd LLC grew its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 142.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,224 shares of the medical research company’s stock after purchasing an additional 32,453 shares during the period. Grandfield & Dodd LLC’s holdings in Exact Sciences were worth $3,814,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lido Advisors LLC grew its position in Exact Sciences by 4.4% in the third quarter. Lido Advisors LLC now owns 5,686 shares of the medical research company’s stock worth $388,000 after acquiring an additional 240 shares in the last quarter. Royal London Asset Management Ltd. grew its position in Exact Sciences by 6.2% in the third quarter. Royal London Asset Management Ltd. now owns 68,378 shares of the medical research company’s stock worth $4,661,000 after acquiring an additional 3,983 shares in the last quarter. Belpointe Asset Management LLC grew its position in Exact Sciences by 123.6% in the third quarter. Belpointe Asset Management LLC now owns 5,593 shares of the medical research company’s stock worth $382,000 after acquiring an additional 3,092 shares in the last quarter. Integrated Advisors Network LLC grew its position in Exact Sciences by 6.0% in the third quarter. Integrated Advisors Network LLC now owns 4,332 shares of the medical research company’s stock worth $296,000 after acquiring an additional 244 shares in the last quarter. Finally, Symmetry Partners LLC purchased a new position in Exact Sciences in the fourth quarter worth about $227,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Canaccord Genuity Group dropped their price target on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. BTIG Research decreased their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Evercore ISI decreased their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Scotiabank assumed coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price objective for the company. Finally, Citigroup decreased their price objective on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.80.

Exact Sciences Stock Down 1.1 %

NASDAQ:EXAS traded down $0.49 during trading hours on Thursday, reaching $44.84. The company’s stock had a trading volume of 4,833,157 shares, compared to its average volume of 2,648,881. The company has a market capitalization of $8.27 billion, a P/E ratio of -33.97 and a beta of 1.22. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $100.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.64. The stock has a 50 day moving average price of $47.42 and a two-hundred day moving average price of $58.74.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $637.52 million during the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. Equities analysts predict that Exact Sciences Co. will post -1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences stock in a transaction 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 transaction, the chief executive officer now directly owns 1,156,191 shares of the company’s stock, valued at $69,544,888.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 1,498 shares of company stock valued at $90,105. 1.36% of the stock is currently owned by insiders.

About Exact Sciences

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.