Axa S.A. lessened its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 95.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 614,952 shares of the medical research company's stock after selling 14,061,558 shares during the quarter. Axa S.A. owned 0.33% of Exact Sciences worth $25,982,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its holdings in Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company's stock worth $31,000 after purchasing an additional 179 shares in the last quarter. Able Wealth Management LLC bought a new position in Exact Sciences during the 4th quarter worth about $45,000. Itau Unibanco Holding S.A. bought a new position in Exact Sciences during the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC increased its holdings in Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company's stock worth $49,000 after purchasing an additional 340 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in Exact Sciences during the 1st quarter worth about $55,000. Institutional investors and hedge funds own 88.82% of the company's stock.
Shares of EXAS stock opened at $67.94 on Friday. The firm has a 50 day moving average price of $58.93 and a two-hundred day moving average price of $56.12. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $12.54 billion, a PE ratio of -51.47 and a beta of 1.26. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62.
Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. During the same period last year, the business posted ($0.45) earnings per share. The business's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, analysts predict that Exact Sciences Co. will post -0.87 earnings per share for the current year.
In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 $958,090. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.36% of the stock is owned by company insiders.
EXAS has been the subject of a number of research reports. Scotiabank initiated coverage on Exact Sciences in a report on Thursday, June 27th. They set a "sector outperform" rating and a $70.00 target price for the company. Jefferies Financial Group initiated coverage on Exact Sciences in a report on Monday, June 3rd. They issued a "buy" rating and a $75.00 price objective for the company. Raymond James restated a "market perform" rating on shares of Exact Sciences in a report on Thursday. Stifel Nicolaus cut their target price on shares of Exact Sciences from $100.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $75.00 target price for the company. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $78.14.
View Our Latest Stock Analysis on 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.
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