IMA Wealth Inc. Has $2.48 Million Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

IMA Wealth Inc. trimmed its position in Exact Sciences Co. (NASDAQ:EXAS) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,504 shares of the medical research company’s stock after selling 2,569 shares during the quarter. Exact Sciences makes up 1.2% of IMA Wealth Inc.’s portfolio, making the stock its 28th biggest position. IMA Wealth Inc.’s holdings in Exact Sciences were worth $2,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in Exact Sciences by 459.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after buying an additional 340 shares during the last quarter. BluePath Capital Management LLC bought a new position in Exact Sciences during the third quarter worth about $33,000. Cullen Frost Bankers Inc. boosted its holdings in Exact Sciences by 40.0% during the third quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock worth $48,000 after buying an additional 200 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Exact Sciences by 29.5% during the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after buying an additional 176 shares during the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in Exact Sciences during the third quarter worth about $54,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Price Performance

Exact Sciences stock traded up $0.06 during midday trading on Friday, reaching $58.85. The stock had a trading volume of 2,019,062 shares, compared to its average volume of 2,963,292. Exact Sciences Co. has a 1-year low of $56.05 and a 1-year high of $100.77. The firm’s fifty day simple moving average is $63.44 and its 200-day simple moving average is $64.95. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.26. The firm had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.72) EPS. Research analysts forecast that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EXAS shares. Benchmark upgraded Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Tuesday, January 2nd. TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Citigroup reiterated a “buy” rating and set a $100.00 price objective on shares of Exact Sciences in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group cut their price objective on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $97.44.

Insiders Place Their Bets

In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the executive vice president now owns 71,787 shares of the company’s stock, valued at approximately $5,025,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the executive vice president now directly owns 71,787 shares of the company’s stock, valued at approximately $5,025,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel James Herriott sold 415 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $61.50, for a total value of $25,522.50. Following the transaction, the general counsel now directly owns 6,943 shares in the company, valued at $426,994.50. The disclosure for this sale can be found here. Insiders have sold 69,113 shares of company stock valued at $4,165,273 in the last 90 days. 1.30% of the stock is currently owned by insiders.

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 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.