State Board of Administration of Florida Retirement System Has $20.10 Million Stake in EXACT Sciences Co. (NASDAQ:EXAS)

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State Board of Administration of Florida Retirement System increased its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,288 shares of the medical research company’s stock after buying an additional 11,866 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of EXACT Sciences worth $20,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in EXACT Sciences by 1.0% during the second quarter. Janney Montgomery Scott LLC now owns 9,118 shares of the medical research company’s stock worth $1,076,000 after purchasing an additional 93 shares during the period. Allstate Corp lifted its position in EXACT Sciences by 1.4% during the first quarter. Allstate Corp now owns 7,080 shares of the medical research company’s stock worth $613,000 after purchasing an additional 97 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in EXACT Sciences by 2.4% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 4,250 shares of the medical research company’s stock worth $368,000 after purchasing an additional 100 shares during the period. Coastal Investment Advisors Inc. lifted its position in EXACT Sciences by 95.5% during the second quarter. Coastal Investment Advisors Inc. now owns 391 shares of the medical research company’s stock worth $47,000 after purchasing an additional 191 shares during the period. Finally, World Asset Management Inc raised its stake in EXACT Sciences by 5.0% during the second quarter. World Asset Management Inc now owns 4,213 shares of the medical research company’s stock worth $497,000 after acquiring an additional 199 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

In other EXACT Sciences news, CFO Jeffrey Thomas Elliott sold 9,845 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $105.60, for a total transaction of $1,039,632.00. Following the transaction, the chief financial officer now directly owns 41,012 shares in the company, valued at approximately $4,330,867.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Katherine S. Zanotti sold 1,744 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.93, for a total value of $205,669.92. Following the transaction, the director now owns 42,844 shares in the company, valued at $5,052,592.92. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

EXACT Sciences stock opened at $116.96 on Friday. The stock has a market capitalization of $15.44 billion, a price-to-earnings ratio of -86.00 and a beta of 1.60. EXACT Sciences Co. has a 52-week low of $53.06 and a 52-week high of $123.99. The stock’s 50 day moving average price is $116.86 and its two-hundred day moving average price is $101.98. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.69 and a current ratio of 2.79.

EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, July 29th. The medical research company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.26. The firm had revenue of $199.87 million for the quarter, compared to analysts’ expectations of $182.18 million. EXACT Sciences had a negative return on equity of 28.90% and a negative net margin of 35.43%. The company’s revenue for the quarter was up 94.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.30) EPS. On average, equities research analysts forecast that EXACT Sciences Co. will post -1.74 EPS for the current year.

Several brokerages have commented on EXAS. Craig Hallum boosted their target price on EXACT Sciences from $115.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Cowen boosted their target price on EXACT Sciences from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. Canaccord Genuity reissued a “buy” rating and set a $125.00 target price (up previously from $118.00) on shares of EXACT Sciences in a research note on Wednesday, July 17th. Zacks Investment Research raised EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research note on Thursday, August 1st. Finally, BTIG Research upped their target price on EXACT Sciences to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $121.80.

EXACT Sciences Profile

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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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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