New York State Common Retirement Fund Reduces Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

New York State Common Retirement Fund lowered its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 320,607 shares of the medical research company’s stock after selling 19,097 shares during the period. New York State Common Retirement Fund owned about 0.18% of Exact Sciences worth $23,719,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Exact Sciences by 172.0% during the 3rd quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock valued at $22,398,000 after buying an additional 207,623 shares during the period. Nordea Investment Management AB lifted its position in shares of Exact Sciences by 1.6% in the 3rd quarter. Nordea Investment Management AB now owns 18,858 shares of the medical research company’s stock worth $1,310,000 after purchasing an additional 293 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Exact Sciences by 11.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock worth $270,254,000 after purchasing an additional 418,770 shares during the period. New York Life Investment Management LLC lifted its position in shares of Exact Sciences by 103.6% in the 3rd quarter. New York Life Investment Management LLC now owns 20,092 shares of the medical research company’s stock worth $1,371,000 after purchasing an additional 10,223 shares during the period. Finally, Aviva PLC lifted its position in shares of Exact Sciences by 383.0% in the 3rd quarter. Aviva PLC now owns 107,054 shares of the medical research company’s stock worth $7,303,000 after purchasing an additional 84,888 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.1 %

Shares of Exact Sciences stock opened at $58.85 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32. The stock has a market capitalization of $10.68 billion, a PE ratio of -51.62 and a beta of 1.25. Exact Sciences Co. has a 52-week low of $56.05 and a 52-week high of $100.77. The company has a 50-day simple moving average of $63.44 and a two-hundred day simple moving average of $64.95.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.26. The business had revenue of $646.89 million during the quarter, compared to analysts’ expectations of $638.83 million. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.72) earnings per share. On average, analysts anticipate that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EXAS shares. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. TheStreet cut shares of Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Benchmark upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, January 2nd. Finally, Citigroup reissued a “buy” rating and set a $100.00 price target on shares of Exact Sciences in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $97.44.

Insider Activity

In other news, insider Jacob A. Orville sold 966 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,341.38. Following the completion of the transaction, the insider now directly owns 7,488 shares of the company’s stock, valued at $459,987.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel James Herriott sold 415 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $61.50, for a total transaction of $25,522.50. Following the completion of the transaction, the general counsel now directly owns 6,943 shares of the company’s stock, valued at $426,994.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacob A. Orville sold 966 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,341.38. Following the transaction, the insider now directly owns 7,488 shares of the company’s stock, valued at $459,987.84. The disclosure for this sale can be found here. Insiders sold 69,113 shares of company stock valued at $4,165,273 over the last three months. Insiders own 1.30% of the company’s stock.

Exact Sciences Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.