Wall Street analysts predict that EXACT Sciences Co. (NASDAQ:EXAS) will post $109.20 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for EXACT Sciences’ earnings, with estimates ranging from $108.10 million to $110.70 million. EXACT Sciences posted sales of $72.57 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 50.5%. The business is scheduled to issue its next quarterly earnings results on Monday, October 29th.
On average, analysts expect that EXACT Sciences will report full-year sales of $427.80 million for the current year, with estimates ranging from $425.00 million to $430.00 million. For the next fiscal year, analysts expect that the business will report sales of $679.57 million, with estimates ranging from $601.70 million to $705.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover EXACT Sciences.
EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. EXACT Sciences had a negative net margin of 35.24% and a negative return on equity of 20.10%. The business had revenue of $102.89 million for the quarter, compared to the consensus estimate of $104.40 million. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. The business’s revenue for the quarter was up 78.5% on a year-over-year basis.
In related news, insider D Scott Coward sold 2,190 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $79.51, for a total value of $174,126.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Thomas Elliott sold 8,984 shares of the firm’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $57.78, for a total transaction of $519,095.52. Following the completion of the transaction, the chief financial officer now directly owns 22,690 shares in the company, valued at approximately $1,311,028.20. The disclosure for this sale can be found here. Insiders sold a total of 17,069 shares of company stock worth $1,079,665 in the last ninety days. 3.20% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Fulton Bank N.A. bought a new position in EXACT Sciences during the 3rd quarter worth about $208,000. Quantbot Technologies LP bought a new position in EXACT Sciences during the 1st quarter worth about $135,000. Hartford Investment Management Co. bought a new position in EXACT Sciences during the 2nd quarter worth about $202,000. Schaper Benz & Wise Investment Counsel Inc. WI bought a new position in EXACT Sciences during the 2nd quarter worth about $222,000. Finally, Traynor Capital Management Inc. bought a new position in EXACT Sciences during the 2nd quarter worth about $240,000. 86.39% of the stock is currently owned by institutional investors.
Shares of EXAS opened at $68.45 on Tuesday. EXACT Sciences has a twelve month low of $37.36 and a twelve month high of $81.22. The firm has a market capitalization of $9.69 billion, a PE ratio of -70.78 and a beta of 0.98. The company has a current ratio of 15.79, a quick ratio of 15.37 and a debt-to-equity ratio of 0.87.
EXACT Sciences Company Profile
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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