Allianz Asset Management GmbH Has $6.70 Million Holdings in EXACT Sciences Co. (EXAS)

Allianz Asset Management GmbH reduced its position in EXACT Sciences Co. (NASDAQ:EXAS) by 13.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,199 shares of the medical research company’s stock after selling 22,356 shares during the period. Allianz Asset Management GmbH owned approximately 0.12% of EXACT Sciences worth $6,701,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Advisor Group Inc. lifted its position in shares of EXACT Sciences by 0.8% during the second quarter. Advisor Group Inc. now owns 7,866 shares of the medical research company’s stock worth $270,000 after purchasing an additional 65 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of EXACT Sciences by 5.6% during the second quarter. Ameritas Investment Partners Inc. now owns 9,640 shares of the medical research company’s stock worth $341,000 after purchasing an additional 511 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of EXACT Sciences by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after purchasing an additional 600 shares during the last quarter. Lincoln National Corp lifted its position in shares of EXACT Sciences by 7.8% during the second quarter. Lincoln National Corp now owns 10,104 shares of the medical research company’s stock worth $357,000 after purchasing an additional 728 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of EXACT Sciences by 6.0% during the third quarter. Amalgamated Bank now owns 14,964 shares of the medical research company’s stock worth $705,000 after purchasing an additional 845 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

In other EXACT Sciences news, insider Graham Peter Lidgard sold 81,025 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $3,821,139.00. Following the sale, the insider now owns 366,519 shares in the company, valued at $17,285,036.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP D Scott Coward sold 29,115 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the completion of the sale, the senior vice president now owns 64,991 shares in the company, valued at approximately $3,064,975.56. The disclosure for this sale can be found here. Insiders sold 595,396 shares of company stock worth $32,953,769 in the last 90 days. 4.00% of the stock is owned by company insiders.

Several brokerages have recently commented on EXAS. Robert W. Baird increased their price target on shares of EXACT Sciences from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Jefferies Group raised their target price on shares of EXACT Sciences to $60.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Benchmark reissued a “buy” rating and issued a $60.00 target price (up previously from $50.00) on shares of EXACT Sciences in a report on Tuesday, October 31st. Canaccord Genuity reissued a “buy” rating and issued a $45.00 target price on shares of EXACT Sciences in a report on Thursday, September 7th. Finally, Bank of America raised their target price on shares of EXACT Sciences from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. EXACT Sciences presently has an average rating of “Hold” and an average price target of $50.58.

EXACT Sciences Co. (NASDAQ:EXAS) opened at $52.82 on Tuesday. The company has a quick ratio of 9.98, a current ratio of 10.34 and a debt-to-equity ratio of 0.01. EXACT Sciences Co. has a twelve month low of $13.05 and a twelve month high of $63.60.

EXACT Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $65.03 million. During the same quarter last year, the company posted ($0.36) earnings per share. EXACT Sciences’s revenue was up 158.4% on a year-over-year basis. equities research analysts forecast that EXACT Sciences Co. will post -1.12 EPS for the current year.

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EXACT Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.

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

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