SVA Wealth Management LLC decreased its holdings in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,274 shares of the medical research company’s stock after selling 5,000 shares during the period. SVA Wealth Management LLC’s holdings in EXACT Sciences were worth $4,046,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXAS. Mosaic Family Wealth LLC bought a new stake in EXACT Sciences during the 1st quarter worth about $37,000. Manchester Capital Management LLC bought a new position in shares of EXACT Sciences during the 1st quarter valued at about $39,000. Coastal Investment Advisors Inc. boosted its position 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 valued at $47,000 after purchasing an additional 191 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of EXACT Sciences during the 2nd quarter valued at about $50,000. Finally, Ropes Wealth Advisors LLC bought a new position in shares of EXACT Sciences during the 2nd quarter valued at about $71,000. 89.56% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on EXAS shares. BidaskClub lowered shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Zacks Investment Research upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research report on Thursday, August 1st. UBS Group raised their price objective on shares of EXACT Sciences from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Cowen raised their price objective on shares of EXACT Sciences from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Finally, Canaccord Genuity restated a “buy” rating and set a $135.00 price objective on shares of EXACT Sciences in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $126.22.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Monday, July 29th. The medical research company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.26. The firm had revenue of $199.87 million for the quarter, compared to analyst estimates of $182.18 million. EXACT Sciences had a negative net margin of 35.43% and a negative return on equity of 28.90%. The company’s revenue for the quarter was up 94.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) earnings per share. On average, research analysts expect that EXACT Sciences Co. will post -1.74 EPS for the current year.
In other news, SVP Scott C. Johnson sold 3,527 shares of EXACT Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $108.63, for a total value of $383,138.01. Following the transaction, the senior vice president now 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 the SEC website. Also, Director Katherine S. Zanotti sold 1,744 shares of EXACT Sciences stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.93, for a total transaction of $205,669.92. Following the completion of the transaction, the director now directly owns 42,844 shares in the company, valued at approximately $5,052,592.92. The disclosure for this sale can be found here. In the last three months, insiders sold 15,116 shares of company stock worth $1,628,440. Insiders own 2.20% of the company’s stock.
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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