Exact Sciences Corporation $EXAS Stake Trimmed by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 24.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,200 shares of the medical research company’s stock after selling 8,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Exact Sciences were worth $1,433,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EXAS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Exact Sciences by 120.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock worth $135,453,000 after acquiring an additional 1,707,287 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Exact Sciences in the 2nd quarter worth approximately $157,805,000. Champlain Investment Partners LLC grew its position in Exact Sciences by 12.6% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,529,820 shares of the medical research company’s stock worth $134,435,000 after purchasing an additional 282,825 shares in the last quarter. Holocene Advisors LP raised its stake in Exact Sciences by 189.5% during the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares during the period. Finally, Bamco Inc. NY lifted its holdings in shares of Exact Sciences by 26.4% in the second quarter. Bamco Inc. NY now owns 1,861,341 shares of the medical research company’s stock valued at $98,912,000 after purchasing an additional 388,627 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Up 0.2%

Shares of Exact Sciences stock opened at $101.74 on Friday. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of -19.12, a P/E/G ratio of 2.40 and a beta of 1.40. The stock has a 50-day simple moving average of $89.25 and a 200-day simple moving average of $65.05. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $102.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.21) earnings per share. On average, equities research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EXAS shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $105.00 price target (up previously from $85.00) on shares of Exact Sciences in a report on Thursday, November 20th. Craig Hallum cut Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Wolfe Research cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Leerink Partnrs downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Exact Sciences has a consensus rating of “Hold” and an average price target of $85.00.

Insider Transactions at Exact Sciences

In other news, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the director owned 57,962 shares in the company, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the executive vice president directly owned 23,237 shares of the company’s stock, valued at approximately $1,742,775. The trade was a 17.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,858 shares of company stock worth $695,289 in the last 90 days. 1.20% of the stock is owned by insiders.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.