OneDigital Investment Advisors LLC Decreases Stake in Exact Sciences Co. (NASDAQ:EXAS)

OneDigital Investment Advisors LLC lessened its stake in Exact Sciences Co. (NASDAQ:EXAS) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,608 shares of the medical research company’s stock after selling 3,753 shares during the quarter. OneDigital Investment Advisors LLC owned 0.05% of Exact Sciences worth $6,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Huntington National Bank grew its holdings in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Exact Sciences in the 2nd quarter worth about $29,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences in the 3rd quarter valued at about $35,000. Vestor Capital LLC purchased a new position in Exact Sciences during the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC purchased a new position in Exact Sciences during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $49.33 on Friday. The business has a 50-day moving average of $65.83 and a two-hundred day moving average of $56.20. The firm has a market capitalization of $9.13 billion, a PE ratio of -42.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts forecast that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Jefferies Financial Group increased their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Citigroup lowered their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Sanford C. Bernstein increased their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $74.47.

Insider Activity

In related news, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

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.