Nissay Asset Management Corp Japan ADV Trims Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Nissay Asset Management Corp Japan ADV decreased its stake in Exact Sciences Co. (NASDAQ:EXAS) by 2.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 14,853 shares of the medical research company’s stock after selling 362 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Exact Sciences were worth $1,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Adirondack Trust Co. purchased a new stake in Exact Sciences in the fourth quarter worth about $31,000. Bessemer Group Inc. purchased a new stake in Exact Sciences in the fourth quarter worth about $37,000. JNBA Financial Advisors purchased a new stake in Exact Sciences in the first quarter worth about $40,000. First PREMIER Bank purchased a new stake in Exact Sciences in the first quarter worth about $42,000. Finally, Montag A & Associates Inc. purchased a new stake in Exact Sciences in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

In related news, CEO Kevin T. Conroy sold 19,240 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $131.09, for a total transaction of $2,522,171.60. Following the completion of the sale, the chief executive officer now directly owns 776,736 shares of the company’s stock, valued at approximately $101,822,322.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

NASDAQ:EXAS opened at $121.91 on Friday. The company has a market cap of $20.91 billion, a price-to-earnings ratio of -24.33 and a beta of 1.29. Exact Sciences Co. has a 1 year low of $70.75 and a 1 year high of $159.54. The company has a 50 day moving average of $117.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.82 and a quick ratio of 2.68.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, May 3rd. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.86. The business had revenue of $402.10 million during the quarter, compared to analyst estimates of $394.66 million. Exact Sciences had a negative return on equity of 6.55% and a negative net margin of 50.08%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company earned ($0.71) EPS. On average, analysts expect that Exact Sciences Co. will post -2.65 earnings per share for the current year.

A number of equities analysts have recently weighed in on EXAS shares. BTIG Research dropped their price objective on Exact Sciences from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, May 5th. SVB Leerink dropped their price objective on Exact Sciences from $180.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, May 5th. Craig Hallum dropped their price objective on Exact Sciences from $161.00 to $144.00 and set a “buy” rating for the company in a research note on Wednesday, May 5th. Stifel Nicolaus upped their price objective on Exact Sciences from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, February 17th. Finally, Truist Securities dropped their price objective on Exact Sciences from $226.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, May 12th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $151.22.

Exact Sciences Company 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, a gene expression tests for breast, prostate, and colon cancers; Oncotype MAP, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; and Covid-19 testing services.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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