Empire Life Investments Inc. Reduces Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Empire Life Investments Inc. lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,765 shares of the medical research company's stock after selling 5,933 shares during the period. Empire Life Investments Inc. owned approximately 0.13% of Exact Sciences worth $13,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in EXAS. Thompson Investment Management Inc. grew its stake in shares of 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 acquiring an additional 36,505 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Exact Sciences by 1,153.2% during 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 period. Simplify Asset Management Inc. boosted its stake in Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company's stock valued at $1,994,000 after acquiring an additional 11,800 shares during the last quarter. Zacks Investment Management bought a new position in shares of Exact Sciences during the 3rd quarter valued at approximately $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Exact Sciences by 59.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company's stock valued at $22,868,000 after purchasing an additional 125,192 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Trading Up 1.7 %

EXAS stock traded up $0.85 during trading on Wednesday, reaching $50.48. The company had a trading volume of 3,349,257 shares, compared to its average volume of 2,213,045. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The business has a 50 day moving average of $55.41 and a 200 day moving average of $60.10. The company has a market cap of $9.34 billion, a P/E ratio of -43.14 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. As a group, sell-side analysts forecast that Exact Sciences Co. will post -1.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays started coverage on shares of Exact Sciences in a report on Thursday, January 23rd. They issued an "overweight" rating and a $70.00 price objective for the company. Jefferies Financial Group upped their price target on Exact Sciences from $84.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. TD Cowen boosted their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Piper Sandler lowered their target price on shares of Exact Sciences from $85.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Finally, Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.76.

About Exact Sciences

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.