Exact Sciences Co. (NASDAQ:EXAS) Stake Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in Exact Sciences Co. (NASDAQ:EXAS) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,200 shares of the medical research company’s stock after purchasing an additional 600 shares during the period. Handelsbanken Fonder AB’s holdings in Exact Sciences were worth $2,765,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Thompson Investment Management Inc. increased its position in Exact Sciences by 17.8% in the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after purchasing an additional 36,505 shares during the last quarter. WCM Investment Management LLC increased its position in Exact Sciences by 1,153.2% in the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. increased its position in Exact Sciences by 67.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after purchasing an additional 11,800 shares during the last quarter. Zacks Investment Management acquired a new position in Exact Sciences in the 3rd quarter worth about $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Exact Sciences by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after purchasing an additional 125,192 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

EXAS opened at $51.28 on Tuesday. The firm has a market capitalization of $9.53 billion, a P/E ratio of -9.21 and a beta of 1.24. The stock’s 50 day moving average price is $54.72 and its two-hundred day moving average price is $60.00. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. On average, equities analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on EXAS shares. Bank of America dropped their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. BTIG Research increased their price objective on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Evercore ISI lowered their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Barclays lowered their price objective on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, Piper Sandler lowered their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.24.

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.