Swedbank AB Purchases 13,333 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Swedbank AB boosted its position in Exact Sciences Co. (NASDAQ:EXAS) by 76.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,848 shares of the medical research company’s stock after buying an additional 13,333 shares during the quarter. Swedbank AB’s holdings in Exact Sciences were worth $1,733,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment acquired a new stake in Exact Sciences in the 3rd quarter valued at approximately $821,000. ArrowMark Colorado Holdings LLC bought a new stake in shares of Exact Sciences in the third quarter valued at approximately $28,608,000. Iron Triangle Partners LP acquired a new stake in shares of Exact Sciences in the third quarter worth $27,239,000. Erste Asset Management GmbH bought a new position in Exact Sciences during the third quarter worth $26,546,000. Finally, Bellevue Group AG raised its stake in Exact Sciences by 25.1% during the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after purchasing an additional 290,585 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Insider Activity at Exact Sciences

In other news, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EXAS has been the topic of several research reports. Craig Hallum dropped their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI lowered their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group raised their price objective on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird lowered their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, BTIG Research raised their target price on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.76.

Exact Sciences Trading Up 0.0 %

EXAS stock opened at $56.05 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of -47.91 and a beta of 1.24. The business has a fifty day moving average price of $57.85 and a 200 day moving average price of $59.89. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts expect that Exact Sciences Co. will post -1.1 EPS for the current fiscal year.

Exact Sciences Company 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.