Northeast Investment Management Boosts Position in EXACT Sciences Co. (EXAS)

Northeast Investment Management increased its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 468.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,111 shares of the medical research company’s stock after purchasing an additional 28,114 shares during the quarter. Northeast Investment Management’s holdings in EXACT Sciences were worth $2,692,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of EXAS. First Trust Advisors LP boosted its holdings in shares of EXACT Sciences by 6,220.7% during the third quarter. First Trust Advisors LP now owns 524,744 shares of the medical research company’s stock worth $41,413,000 after purchasing an additional 516,442 shares during the period. CIBC Private Wealth Group LLC lifted its stake in EXACT Sciences by 76.9% in the second quarter. CIBC Private Wealth Group LLC now owns 1,107,136 shares of the medical research company’s stock valued at $66,196,000 after acquiring an additional 481,230 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in EXACT Sciences by 37.7% in the third quarter. Frontier Capital Management Co. LLC now owns 1,585,851 shares of the medical research company’s stock valued at $125,155,000 after acquiring an additional 434,184 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in EXACT Sciences by 46.3% in the third quarter. Eagle Asset Management Inc. now owns 1,227,683 shares of the medical research company’s stock valued at $96,888,000 after acquiring an additional 388,434 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in EXACT Sciences by 25.8% in the second quarter. Artisan Partners Limited Partnership now owns 1,879,525 shares of the medical research company’s stock valued at $112,377,000 after acquiring an additional 385,766 shares during the last quarter. Institutional investors and hedge funds own 89.70% of the company’s stock.

In other news, insider D Scott Coward sold 2,190 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.51, for a total value of $174,126.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin T. Conroy sold 163,514 shares of the business’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $69.00, for a total transaction of $11,282,466.00. Following the completion of the sale, the insider now owns 886,011 shares of the company’s stock, valued at $61,134,759. The disclosure for this sale can be found here. Insiders sold 389,436 shares of company stock valued at $27,603,229 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

A number of analysts have issued reports on EXAS shares. BidaskClub cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. UBS Group set a $100.00 target price on shares of EXACT Sciences and gave the company a “buy” rating in a research note on Tuesday, October 30th. Jefferies Financial Group reduced their target price on shares of EXACT Sciences from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Robert W. Baird lifted their target price on shares of EXACT Sciences from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, August 23rd. Finally, Bank of America reduced their target price on shares of EXACT Sciences from $75.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $84.08.

Shares of EXACT Sciences stock opened at $67.06 on Monday. The company has a quick ratio of 11.72, a current ratio of 12.08 and a debt-to-equity ratio of 0.94. EXACT Sciences Co. has a 1-year low of $37.36 and a 1-year high of $81.22. The firm has a market capitalization of $8.24 billion, a PE ratio of -67.74 and a beta of 1.21.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.05. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. The business had revenue of $118.29 million during the quarter, compared to analysts’ expectations of $109.33 million. During the same period in the previous year, the company earned ($0.23) earnings per share. EXACT Sciences’s revenue for the quarter was up 63.0% on a year-over-year basis. As a group, analysts anticipate that EXACT Sciences Co. will post -1.5 EPS for the current year.

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About EXACT Sciences

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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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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