EXACT Sciences Co. (EXAS) Holdings Cut by Macquarie Group Ltd.

Macquarie Group Ltd. lessened its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 25.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 722,334 shares of the medical research company’s stock after selling 240,259 shares during the quarter. Macquarie Group Ltd. owned approximately 0.59% of EXACT Sciences worth $43,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of EXACT Sciences in the first quarter worth $135,000. Cornerstone Wealth Management LLC bought a new stake in shares of EXACT Sciences in the second quarter worth $182,000. Hartford Investment Management Co. bought a new stake in shares of EXACT Sciences in the second quarter worth $202,000. Alps Advisors Inc. bought a new stake in shares of EXACT Sciences in the second quarter worth $210,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI bought a new stake in shares of EXACT Sciences in the second quarter worth $222,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ EXAS opened at $68.45 on Tuesday. EXACT Sciences Co. has a 1-year low of $37.36 and a 1-year high of $81.22. The stock has a market cap of $9.69 billion, a PE ratio of -69.14 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 (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share for the quarter, beating the 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 firm had revenue of $102.89 million for the quarter, compared to analyst estimates of $104.40 million. During the same quarter in the prior year, the business earned ($0.27) earnings per share. The business’s quarterly revenue was up 78.5% compared to the same quarter last year. Equities analysts anticipate that EXACT Sciences Co. will post -1.41 EPS for the current year.

In related news, insider D Scott Coward sold 2,190 shares of the company’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 document filed with the SEC, which is available at this link. Also, CFO Jeffrey Thomas Elliott sold 8,984 shares of the company’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 sale, the chief financial officer now owns 22,690 shares in the company, valued at approximately $1,311,028.20. The disclosure for this sale can be found here. Insiders have sold 17,069 shares of company stock worth $1,079,665 in the last quarter. Company insiders own 3.20% of the company’s stock.

EXAS has been the topic of several analyst reports. Bank of America boosted their price objective on shares of EXACT Sciences from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. BidaskClub lowered shares of EXACT Sciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Canaccord Genuity boosted their target price on shares of EXACT Sciences from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 15th. Jefferies Financial Group dropped their target price on shares of EXACT Sciences from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. Finally, Craig Hallum dropped their target price on shares of EXACT Sciences from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.73.

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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