Stephens Investment Management Group LLC Purchases 261,444 Shares of Exact Sciences Corporation $EXAS

Stephens Investment Management Group LLC increased its position in Exact Sciences Corporation (NASDAQ:EXAS) by 49.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 791,527 shares of the medical research company’s stock after buying an additional 261,444 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Exact Sciences were worth $43,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in Exact Sciences during the second quarter valued at $157,805,000. Holocene Advisors LP increased its holdings in shares of Exact Sciences by 189.5% in the second quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Exact Sciences by 643.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock worth $70,390,000 after purchasing an additional 1,113,459 shares during the period. Norges Bank acquired a new stake in Exact Sciences during the second quarter valued at $48,372,000. Finally, AQR Capital Management LLC lifted its position in shares of Exact Sciences by 73.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,753,283 shares of the medical research company’s stock valued at $93,169,000 after buying an additional 741,517 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Exact Sciences

In other news, EVP Jacob A. Orville sold 5,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the sale, the executive vice president owned 23,237 shares of the company’s stock, valued at $1,742,775. This represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the sale, the executive vice president owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. This trade represents a 11.33% decrease in their position. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $102.43 on Friday. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of -19.25, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. The business’s 50 day simple moving average is $96.52 and its 200-day simple moving average is $68.50. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $102.66.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The company had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, equities analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EXAS. Cowen lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Benchmark downgraded Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Barclays restated an “equal weight” rating and set a $105.00 target price (up from $77.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $105.00 price objective (up from $80.00) on shares of Exact Sciences in a research report on Friday, November 28th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.06.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.