Glen Harbor Capital Management LLC Grows Holdings in EXACT Sciences Co. (EXAS)
Glen Harbor Capital Management LLC grew its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,336 shares of the medical research company’s stock after purchasing an additional 11,594 shares during the period. Glen Harbor Capital Management LLC owned approximately 0.29% of EXACT Sciences worth $14,129,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in EXAS. Dimensional Fund Advisors LP lifted its stake in EXACT Sciences by 82.4% during the third quarter. Dimensional Fund Advisors LP now owns 203,145 shares of the medical research company’s stock worth $9,571,000 after purchasing an additional 91,794 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in EXACT Sciences by 5.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 765,522 shares of the medical research company’s stock worth $40,221,000 after purchasing an additional 41,784 shares in the last quarter. Appleton Group LLC acquired a new position in EXACT Sciences during the fourth quarter worth $220,000. Jennison Associates LLC lifted its stake in EXACT Sciences by 258.9% during the fourth quarter. Jennison Associates LLC now owns 518,589 shares of the medical research company’s stock worth $27,247,000 after purchasing an additional 374,078 shares in the last quarter. Finally, IFG Advisory LLC acquired a new position in EXACT Sciences during the fourth quarter worth $6,441,000. Institutional investors own 88.72% of the company’s stock.
A number of research analysts have commented on EXAS shares. Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Leerink Swann set a $67.00 price target on EXACT Sciences and gave the stock a “buy” rating in a research note on Wednesday, March 28th. BidaskClub upgraded EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 7th. ValuEngine upgraded EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Robert W. Baird upgraded EXACT Sciences from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $42.56 to $56.00 in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. EXACT Sciences presently has an average rating of “Buy” and an average target price of $53.84.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Thursday, April 26th. The medical research company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.05. The firm had revenue of $90.30 million for the quarter, compared to analyst estimates of $86.31 million. EXACT Sciences had a negative return on equity of 20.92% and a negative net margin of 38.61%. EXACT Sciences’s revenue for the quarter was up 86.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.32) earnings per share. equities research analysts predict that EXACT Sciences Co. will post -1.11 earnings per share for the current year.
In related news, COO Maneesh Arora sold 5,295 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $52.19, for a total value of $276,346.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas D. Carey sold 8,448 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $39.73, for a total value of $335,639.04. Following the completion of the transaction, the director now directly owns 52,610 shares in the company, valued at approximately $2,090,195.30. The disclosure for this sale can be found here. Insiders sold 135,748 shares of company stock worth $6,082,759 in the last three months. 4.00% of the stock is currently owned by corporate insiders.
About EXACT Sciences
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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