Delta Investment Management LLC bought a new stake in EXACT Sciences Co. (NASDAQ:EXAS) during the first quarter, Holdings Channel reports. The institutional investor bought 24,130 shares of the medical research company’s stock, valued at approximately $2,090,000.

Several other large investors also recently added to or reduced their stakes in the company. First Hawaiian Bank grew its holdings in EXACT Sciences by 160.0% during the first quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock worth $28,000 after acquiring an additional 200 shares during the period. Buffington Mohr McNeal acquired a new position in EXACT Sciences during the first quarter worth $30,000. Karp Capital Management Corp acquired a new position in EXACT Sciences during the fourth quarter worth $38,000. Shine Investment Advisory Services Inc. grew its holdings in EXACT Sciences by 130.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 442 shares of the medical research company’s stock worth $38,000 after acquiring an additional 250 shares during the period. Finally, CWM LLC grew its holdings in EXACT Sciences by 777.1% during the fourth quarter. CWM LLC now owns 614 shares of the medical research company’s stock worth $39,000 after acquiring an additional 544 shares during the period. 87.63% of the stock is currently owned by institutional investors and hedge funds.

EXACT Sciences stock traded up $1.69 during trading hours on Wednesday, hitting $93.69. The stock had a trading volume of 23,016 shares, compared to its average volume of 1,832,410. The company has a debt-to-equity ratio of 1.02, a quick ratio of 8.13 and a current ratio of 8.39. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of -68.52 and a beta of 1.84. EXACT Sciences Co. has a 1-year low of $47.78 and a 1-year high of $105.28.

EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, April 30th. The medical research company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.01). The firm had revenue of $162.00 million during the quarter, compared to analyst estimates of $153.07 million. EXACT Sciences had a negative net margin of 41.58% and a negative return on equity of 28.83%. The firm’s revenue for the quarter was up 79.4% on a year-over-year basis. During the same period last year, the company posted ($0.33) EPS. As a group, sell-side analysts forecast that EXACT Sciences Co. will post -2.13 EPS for the current fiscal year.

In other EXACT Sciences news, insider Mark Stenhouse sold 11,192 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $92.54, for a total value of $1,035,707.68. Following the sale, the insider now owns 25,500 shares of the company’s stock, valued at $2,359,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Thomas Elliott sold 2,447 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $93.20, for a total value of $228,060.40. The disclosure for this sale can be found here. Insiders sold 60,201 shares of company stock worth $5,543,493 in the last three months. 3.20% of the stock is owned by corporate insiders.

A number of research analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on EXACT Sciences from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group upped their price objective on EXACT Sciences from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Craig Hallum reaffirmed a “buy” rating and set a $115.00 price objective (up previously from $95.00) on shares of EXACT Sciences in a report on Wednesday, May 1st. Canaccord Genuity upped their price objective on EXACT Sciences from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, BTIG Research upped their price objective on EXACT Sciences to $130.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $108.45.

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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.

Further Reading: Debt-To-Equity Ratio

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

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