Beacon Investment Advisory Services Inc. Sells 7,310 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Beacon Investment Advisory Services Inc. reduced its stake in Exact Sciences Co. (NASDAQ:EXAS) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,520 shares of the medical research company’s stock after selling 7,310 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Exact Sciences were worth $3,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thompson Investment Management Inc. increased its holdings in Exact Sciences by 13.1% in the 1st quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after acquiring an additional 18,595 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after buying an additional 115,058 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Exact Sciences by 5.0% in the 4th quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock worth $1,561,000 after buying an additional 1,014 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Exact Sciences by 4.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock worth $1,678,000 after buying an additional 1,020 shares during the last quarter. Finally, Evoke Wealth LLC bought a new stake in shares of Exact Sciences in the 4th quarter worth about $2,297,000. 88.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the sale, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,498 shares of company stock valued at $90,105 in the last three months. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXAS. Jefferies Financial Group began coverage on shares of Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 target price on the stock. BTIG Research reduced their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Scotiabank began coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target on the stock. Finally, The Goldman Sachs Group cut their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.80.

Exact Sciences Trading Down 3.7 %

Exact Sciences stock traded down $1.81 during trading hours on Thursday, hitting $47.56. The company had a trading volume of 2,273,124 shares, compared to its average volume of 2,634,963. The firm has a market cap of $8.78 billion, a P/E ratio of -36.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.64. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $100.77. The company has a 50-day moving average price of $46.21 and a two-hundred day moving average price of $57.80.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $637.52 million during the quarter, compared to analysts’ expectations of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. On average, sell-side analysts anticipate that Exact Sciences Co. will post -1.15 earnings per share for the current year.

Exact Sciences Profile

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.