Public Employees Retirement System of Ohio Sells 8,728 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Public Employees Retirement System of Ohio cut its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 11.6% during the 3rd quarter, Holdings Channel reports. The firm owned 66,593 shares of the medical research company’s stock after selling 8,728 shares during the period. Public Employees Retirement System of Ohio’s holdings in Exact Sciences were worth $4,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in EXAS. Huntington National Bank grew its position in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC bought a new position in shares of Exact Sciences in the third quarter worth $46,000. Finally, V Square Quantitative Management LLC acquired a new position in Exact Sciences in the third quarter valued at about $47,000. 88.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EXAS shares. Jefferies Financial Group increased their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird reduced their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI decreased their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, November 21st. Finally, Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.94.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $61.25 on Friday. The business’s 50-day moving average price is $62.73 and its 200-day moving average price is $56.78. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of -52.35 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate 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 business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Exact Sciences Co. will post -1.13 EPS for the current year.

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.