Handelsinvest Investeringsforvaltning Has $307,000 Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Handelsinvest Investeringsforvaltning decreased its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 34.2% in the 1st quarter, HoldingsChannel reports. The firm owned 4,450 shares of the medical research company’s stock after selling 2,311 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Exact Sciences were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in Exact Sciences by 459.5% during the 4th 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 period. Able Wealth Management LLC bought a new position in Exact Sciences in the fourth quarter valued at about $45,000. Fortitude Family Office LLC bought a new position in Exact Sciences in the first quarter valued at about $55,000. National Bank of Canada FI grew its position in Exact Sciences by 30.9% in the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock valued at $63,000 after acquiring an additional 200 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Exact Sciences during the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on EXAS shares. Jefferies Financial Group started coverage on Exact Sciences in a research note on Monday, June 3rd. They set a “buy” rating and a $75.00 price target on the stock. Canaccord Genuity Group cut their price objective on Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Citigroup cut their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Scotiabank assumed coverage on Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price objective on the stock. Finally, Evercore ISI cut their price objective on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.80.

Exact Sciences Stock Performance

EXAS stock traded up $0.31 during midday trading on Wednesday, hitting $43.48. The company’s stock had a trading volume of 84,010 shares, compared to its average volume of 2,643,943. The stock’s 50-day moving average price is $49.60 and its 200 day moving average price is $59.82. The company has a quick ratio of 1.45, a current ratio of 1.64 and a debt-to-equity ratio of 0.66. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $100.77. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of -32.70 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. The business had revenue of $637.52 million for the quarter, compared to analysts’ expectations of $624.95 million. On average, equities analysts forecast that Exact Sciences Co. will post -1.15 EPS for the current year.

Insider Activity

In other news, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,498 shares of company stock valued at $90,105 in the last 90 days. 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.