EULAV Asset Management Boosts Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

EULAV Asset Management grew its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 305,000 shares of the medical research company's stock after purchasing an additional 20,000 shares during the quarter. EULAV Asset Management owned approximately 0.17% of Exact Sciences worth $20,777,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of EXAS. Capital World Investors boosted its position in Exact Sciences by 74.4% during the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company's stock valued at $899,528,000 after purchasing an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Exact Sciences in the 2nd quarter valued at about $163,896,000. Sculptor Capital LP purchased a new position in shares of Exact Sciences in the 2nd quarter worth approximately $32,819,000. Samlyn Capital LLC bought a new position in shares of Exact Sciences during the 2nd quarter worth approximately $30,426,000. Finally, Iron Triangle Partners LP purchased a new stake in Exact Sciences during the first quarter valued at approximately $48,342,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EXAS shares. TD Cowen cut their price target on shares of Exact Sciences from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Benchmark decreased their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Craig Hallum lowered their target price on Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. BTIG Research dropped their price target on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup dropped their price objective on Exact Sciences from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and an average price target of $74.47.

Exact Sciences Stock Performance

Shares of EXAS traded down $1.22 during midday trading on Wednesday, reaching $52.70. 2,141,771 shares of the stock were exchanged, compared to its average volume of 2,645,736. 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 company has a market capitalization of $9.75 billion, a price-to-earnings ratio of -46.09 and a beta of 1.27. The business's 50-day moving average price is $65.55 and its 200 day moving average price is $56.02. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its 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). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences's quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company's stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now owns 13,687 shares in the company, valued at approximately $958,090. This trade represents a 6.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.

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.