Perigon Wealth Management LLC Boosts Position in Exact Sciences Co. (NASDAQ:EXAS)

Perigon Wealth Management LLC boosted its position in Exact Sciences Co. (NASDAQ:EXAS) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,436 shares of the medical research company’s stock after purchasing an additional 264 shares during the period. Perigon Wealth Management LLC’s holdings in Exact Sciences were worth $474,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mackenzie Financial Corp increased its holdings in Exact Sciences by 25.2% during the second quarter. Mackenzie Financial Corp now owns 11,535 shares of the medical research company’s stock valued at $487,000 after buying an additional 2,325 shares during the last quarter. Creative Planning increased its stake in shares of Exact Sciences by 17.6% in the 2nd quarter. Creative Planning now owns 33,154 shares of the medical research company’s stock worth $1,401,000 after purchasing an additional 4,954 shares in the last quarter. Cetera Investment Advisers raised its holdings in Exact Sciences by 52.2% in the 2nd quarter. Cetera Investment Advisers now owns 163,841 shares of the medical research company’s stock worth $6,922,000 after purchasing an additional 56,174 shares during the period. Sanctuary Advisors LLC purchased a new position in Exact Sciences during the second quarter valued at $906,000. Finally, AMF Tjanstepension AB bought a new stake in Exact Sciences during the third quarter valued at about $724,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $56.05 on Friday. The business has a 50 day simple moving average of $57.85 and a 200-day simple moving average of $59.82. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of -47.91 and a beta of 1.24. 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 (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts forecast that Exact Sciences Co. will post -1.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BTIG Research lifted their price objective on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Monday, January 13th. Stifel Nicolaus decreased their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler dropped their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, TD Cowen raised their price target on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.76.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy acquired 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.36% of the company’s stock.

About Exact Sciences

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.