Envestnet Portfolio Solutions Inc. Has $752,000 Holdings in Exact Sciences Corporation $EXAS

Envestnet Portfolio Solutions Inc. decreased its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 80.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,155 shares of the medical research company’s stock after selling 58,727 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Exact Sciences were worth $752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXAS. Larson Financial Group LLC raised its stake in Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 589 shares during the period. National Pension Service boosted its position in Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after purchasing an additional 292 shares during the period. SVB Wealth LLC acquired a new position in shares of Exact Sciences in the first quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Exact Sciences in the first quarter valued at $34,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Exact Sciences in the first quarter valued at about $34,000. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on EXAS. Wells Fargo & Company set a $68.00 target price on shares of Exact Sciences in a report on Wednesday, October 1st. Zacks Research upgraded shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen upgraded Exact Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Craig Hallum upped their target price on Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Finally, Evercore ISI lifted their price target on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $69.19.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $62.73 on Tuesday. The business has a fifty day moving average price of $52.67 and a two-hundred day moving average price of $51.31. The stock has a market capitalization of $11.88 billion, a PE ratio of -11.55, a P/E/G ratio of 5.43 and a beta of 1.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.24. The company had revenue of $811.09 million for the quarter, compared to analysts’ expectations of $774.43 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.Exact Sciences’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) earnings per share. As a group, equities analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 57,962 shares in the company, valued at approximately $3,477,720. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate 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.