Grandfield & Dodd LLC Increases Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Grandfield & Dodd LLC boosted its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 30.2% in the third quarter, Holdings Channel.com reports. The firm owned 103,999 shares of the medical research company’s stock after acquiring an additional 24,103 shares during the period. Grandfield & Dodd LLC’s holdings in Exact Sciences were worth $7,084,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXAS. Vanguard Group Inc. boosted its stake in Exact Sciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after acquiring an additional 180,341 shares during the last quarter. Capital World Investors lifted its position in shares of Exact Sciences by 74.4% during the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after purchasing an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Exact Sciences in the second quarter worth about $163,896,000. Armistice Capital LLC increased its holdings in Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after buying an additional 669,438 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Exact Sciences by 19.0% in the second quarter. Principal Financial Group Inc. now owns 1,303,887 shares of the medical research company’s stock valued at $55,089,000 after buying an additional 208,641 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on EXAS shares. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Craig Hallum lowered their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. BTIG Research reduced their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.47.

Exact Sciences Trading Up 8.8 %

Shares of EXAS stock opened at $53.92 on Wednesday. The stock has a 50-day simple moving average of $65.55 and a 200 day simple moving average of $56.02. The stock has a market capitalization of $9.98 billion, a P/E ratio of -46.09 and a beta of 1.27. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts expect that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. The trade was a 6.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin T. Conroy bought 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by insiders.

About 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.