EULAV Asset Management Grows Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

EULAV Asset Management raised its position in Exact Sciences Co. (NASDAQ:EXAS) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,000 shares of the medical research company’s stock after buying an additional 20,000 shares during the quarter. EULAV Asset Management’s holdings in Exact Sciences were worth $20,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Huntington National Bank raised its stake in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences in the second quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences in the third quarter valued at approximately $35,000. Vestor Capital LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at approximately $46,000. Finally, V Square Quantitative Management LLC bought a new position in Exact Sciences in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler dropped their target price on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Jefferies Financial Group increased their price objective on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Benchmark reduced their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group lowered their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Stifel Nicolaus reduced their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.47.

Exact Sciences Price Performance

Shares of EXAS opened at $53.92 on Wednesday. The firm’s 50-day simple moving average is $65.55 and its two-hundred day simple moving average is $56.02. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The stock has a market cap of $9.98 billion, a PE ratio of -46.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts anticipate that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. This trade represents a 6.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company’s stock.

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.