Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 587,897 shares of the medical research company’s stock after selling 468 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in EXACT Sciences were worth $51,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in shares of EXACT Sciences by 13.5% during the second quarter. Parallel Advisors LLC now owns 901 shares of the medical research company’s stock worth $78,000 after purchasing an additional 107 shares in the last quarter. CSat Investment Advisory L.P. lifted its position in shares of EXACT Sciences by 18.8% during the first quarter. CSat Investment Advisory L.P. now owns 826 shares of the medical research company’s stock worth $48,000 after purchasing an additional 131 shares in the last quarter. Curbstone Financial Management Corp lifted its position in shares of EXACT Sciences by 0.7% during the second quarter. Curbstone Financial Management Corp now owns 21,150 shares of the medical research company’s stock worth $1,839,000 after purchasing an additional 150 shares in the last quarter. Beech Hill Advisors Inc. raised its holdings in EXACT Sciences by 0.6% in the second quarter. Beech Hill Advisors Inc. now owns 28,710 shares of the medical research company’s stock valued at $2,496,000 after acquiring an additional 175 shares in the last quarter. Finally, Verus Capital Partners LLC raised its holdings in EXACT Sciences by 40.7% in the first quarter. Verus Capital Partners LLC now owns 691 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 200 shares in the last quarter. 86.66% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on EXAS. Craig Hallum cut their price target on shares of EXACT Sciences from $99.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Bank of America upped their price target on shares of EXACT Sciences from $88.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, May 7th. BidaskClub raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a report on Friday, July 17th. SVB Leerink upped their price target on shares of EXACT Sciences from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. Finally, Benchmark upped their price target on shares of EXACT Sciences from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Eighteen research analysts have rated the stock with a buy rating, EXACT Sciences currently has an average rating of “Buy” and a consensus price target of $105.80.

EXACT Sciences stock opened at $94.75 on Friday. The company has a 50-day simple moving average of $90.52 and a 200-day simple moving average of $81.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 5.81 and a current ratio of 6.09. EXACT Sciences Co. has a one year low of $35.25 and a one year high of $123.31.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Thursday, July 30th. The medical research company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.04. The business had revenue of $268.87 million during the quarter, compared to analyst estimates of $229.62 million. EXACT Sciences had a negative net margin of 13.65% and a negative return on equity of 14.49%. On average, research analysts predict that EXACT Sciences Co. will post -1.63 earnings per share for the current fiscal year.

In related news, Director Katherine S. Zanotti sold 1,164 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $96.13, for a total value of $111,895.32. Following the completion of the transaction, the director now owns 41,907 shares in the company, valued at approximately $4,028,519.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Thomas Elliott sold 8,746 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $95.58, for a total transaction of $835,942.68. Following the completion of the transaction, the chief financial officer now owns 59,109 shares of the company’s stock, valued at approximately $5,649,638.22. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

EXACT Sciences Profile

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

Read More: Rule of 72

Want to see what other hedge funds are holding EXAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EXACT Sciences Co. (NASDAQ:EXAS).

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

Receive News & Ratings for EXACT Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EXACT Sciences and related companies with MarketBeat.com's FREE daily email newsletter.