Artemis Investment Management LLP Boosts Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Artemis Investment Management LLP increased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 139.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 255,842 shares of the medical research company’s stock after purchasing an additional 149,067 shares during the period. Artemis Investment Management LLP owned 0.14% of Exact Sciences worth $14,376,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank grew its position in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences during the third quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences in the third quarter worth about $35,000. Vestor Capital LLC purchased a new position in Exact Sciences during the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC bought a new position in Exact Sciences during the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of EXAS opened at $51.74 on Monday. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a market capitalization of $9.58 billion, a P/E ratio of -44.22 and a beta of 1.24. The firm has a 50 day moving average of $57.15 and a 200 day moving average of $59.26. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share 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 during the quarter, compared to analysts’ expectations of $716.80 million. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Exact Sciences Co. will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

EXAS has been the topic of several research analyst reports. The Goldman Sachs Group reduced their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI decreased their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Benchmark reaffirmed a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. TD Cowen increased their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus cut their price objective on Exact Sciences from $82.00 to $67.00 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 given a buy rating to the company. According to MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $72.94.

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.