Exact Sciences Corporation $EXAS Stake Trimmed by Osaic Holdings Inc.

Osaic Holdings Inc. cut its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 16.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,282 shares of the medical research company’s stock after selling 7,067 shares during the quarter. Osaic Holdings Inc.’s holdings in Exact Sciences were worth $1,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Advisory Services LLC raised its holdings in shares of Exact Sciences by 31.6% during the first quarter. Kestra Advisory Services LLC now owns 18,747 shares of the medical research company’s stock valued at $812,000 after acquiring an additional 4,504 shares during the period. Ieq Capital LLC raised its stake in Exact Sciences by 67.8% during the 1st quarter. Ieq Capital LLC now owns 45,285 shares of the medical research company’s stock valued at $1,960,000 after purchasing an additional 18,292 shares during the period. State of Wyoming purchased a new stake in shares of Exact Sciences in the first quarter valued at $176,000. Magnetar Financial LLC acquired a new stake in shares of Exact Sciences in the first quarter worth $325,000. Finally, Graham Capital Management L.P. acquired a new stake in shares of Exact Sciences in the first quarter worth $520,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction dated Thursday, October 9th. The stock was 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 of the company’s stock, valued at approximately $3,477,720. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jacob A. Orville sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the transaction, the executive vice president directly owned 23,237 shares in the company, valued at $1,742,775. The trade was a 17.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,858 shares of company stock worth $695,289. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Robert W. Baird set a $105.00 price target on Exact Sciences in a research report on Thursday, November 20th. BTIG Research lowered shares of Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. TD Cowen downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Canaccord Genuity Group lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and upped their price objective for the company from $85.00 to $105.00 in a research note on Tuesday, November 25th. Finally, Benchmark downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.00.

Exact Sciences Trading Up 0.4%

NASDAQ:EXAS opened at $101.93 on Tuesday. The company has a market capitalization of $19.31 billion, a P/E ratio of -19.16, a P/E/G ratio of 12.53 and a beta of 1.41. The stock’s 50 day moving average price is $86.23 and its 200 day moving average price is $63.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $102.66.

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

Exact Sciences Profile

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.