EFG Asset Management Americas Corp. Purchases Shares of 23,199 Exact Sciences Corporation $EXAS

EFG Asset Management Americas Corp. acquired a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,199 shares of the medical research company’s stock, valued at approximately $1,233,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Exact Sciences by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock worth $763,535,000 after purchasing an additional 617,384 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock valued at $277,225,000 after buying an additional 643,631 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Exact Sciences by 12.4% during the 1st quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company’s stock worth $142,062,000 after acquiring an additional 362,314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Exact Sciences by 120.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock valued at $135,453,000 after acquiring an additional 1,707,287 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in Exact Sciences in the second quarter valued at about $157,805,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Trading Up 23.7%

Shares of EXAS opened at $86.18 on Thursday. The stock’s fifty day simple moving average is $61.01 and its 200-day simple moving average is $54.79. The firm has a market capitalization of $16.33 billion, a PE ratio of -15.87, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $89.67. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The firm had revenue of $850.74 million during the quarter, compared to analyst estimates of $810.42 million. During the same period last year, the company earned ($0.21) earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. Exact Sciences has set its FY 2025 guidance at EPS. As a group, research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares of the company’s stock, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the completion of the transaction, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EXAS shares. Royal Bank Of Canada decreased their price objective on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. Cowen restated a “buy” rating on shares of Exact Sciences in a research note on Tuesday, November 4th. Evercore ISI increased their target price on shares of Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Guggenheim boosted their target price on Exact Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Barclays boosted their price objective on Exact Sciences from $65.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.06.

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.