APG Asset Management N.V. purchased a new position in shares of EXACT Sciences Co. (NASDAQ:EXAS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,200 shares of the medical research company’s stock, valued at approximately $1,057,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Mosaic Family Wealth LLC acquired a new stake in shares of EXACT Sciences during the 1st quarter worth $37,000. Manchester Capital Management LLC acquired a new stake in shares of EXACT Sciences during the 1st quarter worth $39,000. Coastal Investment Advisors Inc. increased its holdings in shares of EXACT Sciences by 95.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 391 shares of the medical research company’s stock worth $47,000 after buying an additional 191 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in shares of EXACT Sciences during the 2nd quarter worth $50,000. Finally, Ropes Wealth Advisors LLC acquired a new stake in EXACT Sciences in the 2nd quarter valued at $71,000. Institutional investors and hedge funds own 87.63% of the company’s stock.
In related news, SVP Scott C. Johnson sold 3,527 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $108.63, for a total transaction of $383,138.01. Following the completion of the sale, the senior vice president now directly owns 7,934 shares of the company’s stock, valued at $861,870.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey Thomas Elliott sold 9,845 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $105.60, for a total transaction of $1,039,632.00. Following the completion of the sale, the chief financial officer now directly owns 41,012 shares of the company’s stock, valued at approximately $4,330,867.20. The disclosure for this sale can be found here. Insiders have sold 15,116 shares of company stock worth $1,628,440 over the last quarter. 2.20% of the stock is owned by company insiders.
EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, July 29th. The medical research company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.26. EXACT Sciences had a negative net margin of 35.43% and a negative return on equity of 28.90%. The company had revenue of $199.87 million for the quarter, compared to analyst estimates of $182.18 million. During the same period in the prior year, the business earned ($0.30) earnings per share. EXACT Sciences’s quarterly revenue was up 94.3% on a year-over-year basis. Sell-side analysts predict that EXACT Sciences Co. will post -1.75 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on EXAS shares. William Blair reissued a “buy” rating on shares of EXACT Sciences in a research report on Tuesday, September 10th. BidaskClub cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Oppenheimer initiated coverage on shares of EXACT Sciences in a research report on Thursday, September 26th. They issued an “outperform” rating and a $130.00 price objective for the company. Cowen increased their price target on shares of EXACT Sciences from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Finally, Leerink Swann reaffirmed a “buy” rating on shares of EXACT Sciences in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. EXACT Sciences has a consensus rating of “Buy” and an average target price of $126.91.
EXACT Sciences Company 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.
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