Exact Sciences CEO sells $6.5M — Hedge funds hold 84.5% of company: 4 insights

Recent SEC filings provided insights into Exact Sciences, the company that manufactures Cologuard.

Here's what you should know:

1. Exact Sciences President and CEO Kevin Conroy sold 123,513 shares at an average price of $52.58 per share Dec. 22. The sale netted him approximately $6.5 million, GuruFocus reports.

2. This is the second large transaction by Mr. Conroy. He sold 121,849 shares at an average price of $53.45 for approximately $6.5 million Dec. 6.

3. PostAnalyst reports the majority of Exact Sciences' stock is held by hedge funds. Approximately 84.5 percent of Exact Sciences' total holdings are held by institutional investors. Vanguard Group holds the most stock with $505.42 million or 8.17 percent of the company. Blackrock has the second most, followed by Wellington Management Group.

4. Since September 2017, 138 hedge funds have increased their position in Exact Sciences by 9.93 million shares, while 138 hedge funds decreased their position by 12.96 million shares. Approximately 41 hedge funds hold a combined 77.66 million shares.

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