State Board of Administration of Florida Retirement System raised its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 122.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,581 shares of the medical research company’s stock after buying an additional 86,300 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of EXACT Sciences worth $9,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers raised its stake in EXACT Sciences by 12.9% during the second quarter. Rhumbline Advisers now owns 131,436 shares of the medical research company’s stock worth $7,859,000 after purchasing an additional 14,972 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in EXACT Sciences during the 2nd quarter worth approximately $222,000. Pekin Singer Strauss Asset Management IL acquired a new position in EXACT Sciences during the 2nd quarter worth approximately $299,000. Boston Financial Mangement LLC acquired a new position in EXACT Sciences during the 2nd quarter worth approximately $4,085,000. Finally, Traynor Capital Management Inc. acquired a new position in EXACT Sciences during the 2nd quarter worth approximately $240,000. Institutional investors and hedge funds own 86.40% of the company’s stock.

NASDAQ EXAS traded down $0.49 during mid-day trading on Friday, hitting $76.27. The company’s stock had a trading volume of 815,978 shares, compared to its average volume of 2,740,870. EXACT Sciences Co. has a 52-week low of $37.36 and a 52-week high of $80.35. The company has a debt-to-equity ratio of 0.87, a quick ratio of 15.37 and a current ratio of 15.79.

EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. EXACT Sciences had a negative net margin of 35.24% and a negative return on equity of 20.10%. The company had revenue of $102.89 million for the quarter, compared to analyst estimates of $104.40 million. During the same quarter last year, the firm posted ($0.27) earnings per share. The business’s quarterly revenue was up 78.5% on a year-over-year basis. equities analysts anticipate that EXACT Sciences Co. will post -1.41 earnings per share for the current year.

In other EXACT Sciences news, Director Thomas D. Carey sold 3,427 shares of EXACT Sciences stock in a transaction on Monday, July 30th. The shares were sold at an average price of $58.86, for a total value of $201,713.22. Following the completion of the transaction, the director now owns 48,983 shares of the company’s stock, valued at $2,883,139.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Thomas Elliott sold 8,984 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $57.78, for a total transaction of $519,095.52. Following the transaction, the chief financial officer now directly owns 22,690 shares of the company’s stock, valued at approximately $1,311,028.20. The disclosure for this sale can be found here. Insiders have sold 17,014 shares of company stock valued at $1,031,717 in the last three months. Corporate insiders own 3.20% of the company’s stock.

EXAS has been the subject of several research analyst reports. BTIG Research upped their target price on shares of EXACT Sciences from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. Canaccord Genuity reiterated a “buy” rating and issued a $68.00 price target (up previously from $60.00) on shares of EXACT Sciences in a research report on Thursday, May 31st. Zacks Investment Research upgraded shares of EXACT Sciences from a “sell” rating to a “hold” rating in a research report on Monday, June 4th. Robert W. Baird increased their price target on shares of EXACT Sciences from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, June 5th. Finally, BidaskClub upgraded shares of EXACT Sciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $81.73.

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

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