On September 24, 2023, it was reported that Schaper Benz & Wise Investment Counsel Inc. WI has acquired a new position in Exact Sciences Co. (NASDAQ:EXAS) during the 2nd quarter. According to the company’s most recent 13F filing with the Securities and Exchange Commission, the institutional investor purchased 2,200 shares of the medical research company’s stock. The value of these shares is estimated to be approximately $207,000.
This acquisition by Schaper Benz & Wise Investment Counsel Inc. WI showcases their confidence in Exact Sciences Co. and their commitment to investing in the medical research sector. Exact Sciences Co., known for its innovative approach to cancer screening and detection technologies, has been making significant strides in the field of medical research.
In other news related to Exact Sciences Co., General Counsel James Herriott recently sold 1,300 shares of the stock on Wednesday, July 19th for an average price of $100.00 per share. The total transaction amounted to $130,000. Following this sale, James Herriott now holds 5,964 shares directly in the company valued at approximately $596,400.
It is worth noting that this transaction was disclosed in a document filed with the SEC and can be accessed through their website. Additionally, CFO Jeffrey Thomas Elliott sold 30,210 shares of Exact Sciences Co. stock on Monday, August 21st at an average price of $82.92 per share. This sale resulted in a total value of $2,505,013.20.
Overall, insiders have sold a total of 34,860 shares of Exact Sciences Co.’s stock valued at $2,944,657 within the last three months alone. Currently, insiders own approximately 1.30% of the company’s stock.
These recent transactions involving General Counsel James Herriott and CFO Jeffrey Thomas Elliott provide valuable insights into how key individuals within Exact Sciences Co. are managing their holdings. Such information is crucial for investors and analysts to better understand the dynamics and decisions being made within the company.
In conclusion, Schaper Benz & Wise Investment Counsel Inc. WI’s acquisition of 2,200 shares in Exact Sciences Co. demonstrates a vote of confidence in the medical research company. The recent sales made by General Counsel James Herriott and CFO Jeffrey Thomas Elliott offer further insight into the actions of key individuals within the company. As the medical research sector continues to evolve, it will be interesting to observe how these transactions impact Exact Sciences Co.’s future growth and development.
Donaldson Company, Inc.
DCI
Strong Buy
Updated on: 04/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Growing Investor Confidence and Promising Financial Performance Drive Interest in Exact Sciences
In recent months, several hedge funds and institutional investors have been actively buying and selling shares of Exact Sciences (NASDAQ:EXAS), a medical research company. Vanguard Group Inc., one of the leading investment management companies, has increased its holdings in Exact Sciences by 4.4% during the third quarter. The company now owns 16,676,611 shares of Exact Sciences valued at $541,823,000 after purchasing an additional 698,740 shares in the last quarter.
Capital World Investors, another major player in the investment industry, has also raised its stake in Exact Sciences by 17.2% during the first quarter. With a current ownership of 5,487,009 shares worth $383,652,000, they acquired an additional 804,159 shares during this period. Ensign Peak Advisors Inc followed suit with a 9.8% increase in their holdings during the same period. They now own 2,856,406 shares valued at $193,693,000 after acquiring an additional 254,519 shares.
Artisan Partners Limited Partnership has seen significant growth as well with a stake increase of 23.8%. Their current ownership stands at 2,687,326 shares worth $182,228,000 after buying an additional 5165133 shares during the earlier part of the year. Geode Capital Management LLC completes this group effort with a stake increase of 3.7%, bringing their total ownership to 2 ,591 ,057 shares worth approximately $175 ,458 ,000.
Sources indicate that hedge funds and other institutional investors currently own around 89.13% of Exact Sciences’ stock. This data showcases strong investor confidence in the future prospects and potential growth opportunities within the medical research company.
As news about these investments emerged from various reputable sources on September 24th,* brokerages began weighing in on EXAS stocks as well.The Credit Suisse Group expressed a “neutral” rating for the stock but increased the target price from $75.00 to $90.00 in a research note published on August 2nd. Piper Sandler, likewise, gave a “neutral” rating and raised the target price from $80.00 to $90.00 on August 8th.
Additional coverage by StockNews.com introduced a “hold” rating for Exact Sciences in their research note published on August 17th. On the other hand, Bank of America positively revised their price objective from $105.00 to $110.00 on August 2nd.* Citigroup was also optimistic about the company’s future, increasing their price objective from $100.00 to $130.00.
It is worth noting that Exact Sciences has received positive ratings as well, with six investment analysts rating it as “hold,” while nine have issued a buy rating for the company according to Bloomberg data analysis.* This consensus suggests a moderate buy strategy while offering a consensus price target of around $97.00.
As of September 24th*, EXAS shares were trading at approximately $66.85, experiencing a decline of $2.68 during midday trading on Friday when compared to its average volume of 1,122,364 shares.* The stock’s performance over the past year indicates that it has reached both highs and lows with its lowest point recorded at $29.27 and highest at $100.77.
Exact Sciences’ current financials reveal promising prospects despite recent fluctuations in share prices and trading volumes.According to their earnings report released on August 1st*, the company reported better-than-expected quarterly results with earnings per share (EPS) of ($0.45). Analysts had anticipated an EPS of ($0.50), making this achievement worth noting for Exact Sciences.
The business demonstrated solid growth with revenue reaching $622.10 million during Q3 against a consensus estimate of $601.14 million. This indicates an impressive year-over-year increase of 19.3% and a negative net margin of 18.76%. Investors are eagerly awaiting the company’s performance in the coming quarters, with analysts predicting that Exact Sciences Co. will post -1.9 earnings per share for the current fiscal year.
Exact Sciences continues to gain attention from both institutional investors and analysts alike due to its potential for growth and improving financial performance. While past performance is not indicative of future results, it is clear that Exact Sciences has positioned itself as a key player in the medical research industry, warranting a closer look by investors seeking opportunities in this sector.
*Please note that all references to dates are fictional and used for the purpose of this exercise only
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