MML Investors Services LLC Reduces Holdings in Exact Sciences Co. (NASDAQ:EXAS)

MML Investors Services LLC lowered its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,712 shares of the medical research company’s stock after selling 3,794 shares during the period. MML Investors Services LLC’s holdings in Exact Sciences were worth $2,569,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Huntington National Bank raised its position in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Exact Sciences in the third quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences in the third quarter valued at $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences during the third quarter valued at $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in Exact Sciences during the 3rd quarter worth about $47,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on EXAS shares. Robert W. Baird decreased their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Stifel Nicolaus lowered their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen increased their price target on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI lowered their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.94.

Exact Sciences Stock Down 2.0 %

Shares of NASDAQ:EXAS opened at $61.25 on Monday. The stock has a 50-day simple moving average of $62.73 and a 200-day simple moving average of $56.87. The stock has a market capitalization of $11.34 billion, a P/E ratio of -52.35 and a beta of 1.24. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $716.80 million. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts forecast that Exact Sciences Co. will post -1.13 earnings per share for the current year.

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.