Belpointe Asset Management LLC Has $2.71 Million Stock Position in Exact Sciences Corporation $EXAS

Belpointe Asset Management LLC lessened its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 2.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 50,944 shares of the medical research company’s stock after selling 1,291 shares during the quarter. Belpointe Asset Management LLC’s holdings in Exact Sciences were worth $2,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXAS. 111 Capital bought a new position in Exact Sciences during the second quarter worth $580,000. QRG Capital Management Inc. grew its holdings in Exact Sciences by 18.1% during the 2nd quarter. QRG Capital Management Inc. now owns 51,458 shares of the medical research company’s stock worth $2,734,000 after acquiring an additional 7,869 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Exact Sciences in the 2nd quarter worth about $467,000. ASR Vermogensbeheer N.V. lifted its stake in shares of Exact Sciences by 13.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 17,143 shares of the medical research company’s stock valued at $911,000 after purchasing an additional 2,023 shares during the period. Finally, Leverty Financial Group LLC bought a new stake in shares of Exact Sciences during the 2nd quarter valued at about $213,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Transactions at Exact Sciences

In other news, Director James Edward Doyle sold 1,485 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the sale, the director owned 59,962 shares in the company, valued at $2,519,603.24. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $57.63 on Tuesday. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of -10.61, a PEG ratio of 5.24 and a beta of 1.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83. The firm’s 50-day simple moving average is $49.76 and its 200 day simple moving average is $50.21.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wall Street Zen raised Exact Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. BTIG Research lowered their price objective on shares of Exact Sciences from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Evercore ISI cut their target price on shares of Exact Sciences from $68.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Cowen restated a “buy” rating on shares of Exact Sciences in a report on Thursday, August 7th. Finally, Barclays upped their price objective on shares of Exact Sciences from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $68.52.

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.