Exact Sciences Co. (NASDAQ:EXAS) Position Trimmed by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its stake in Exact Sciences Co. (NASDAQ:EXAS) by 14.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,315 shares of the medical research company’s stock after selling 2,185 shares during the quarter. Janus Henderson Group PLC’s holdings in Exact Sciences were worth $907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in Exact Sciences in the 2nd quarter worth approximately $163,896,000. Champlain Investment Partners LLC increased its stake in shares of Exact Sciences by 10.9% in the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock worth $169,924,000 after acquiring an additional 245,980 shares during the last quarter. Bellevue Group AG raised its holdings in shares of Exact Sciences by 25.1% during the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after acquiring an additional 290,585 shares in the last quarter. Armistice Capital LLC boosted its position in Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Exact Sciences by 19.0% in the second quarter. Principal Financial Group Inc. now owns 1,303,887 shares of the medical research company’s stock valued at $55,089,000 after purchasing an additional 208,641 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EXAS shares. Piper Sandler cut their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Bank of America reduced their target price on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus dropped their price target on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $72.94.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $61.25 on Friday. The stock has a market capitalization of $11.34 billion, a P/E ratio of -52.35 and a beta of 1.24. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm has a 50 day moving average of $62.73 and a 200-day moving average of $56.78. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last announced 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 the consensus estimate of $716.80 million. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The shares were 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 owns 12,758 shares in the company, valued at $893,060. The trade was a 6.79 % decrease in their ownership of the stock. 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.