Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by Thematics Asset Management

Thematics Asset Management raised its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 26.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 87,572 shares of the medical research company's stock after acquiring an additional 18,451 shares during the period. Thematics Asset Management's holdings in Exact Sciences were worth $4,921,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors lifted its stake in shares of Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after purchasing an additional 1,696,321 shares during the period. Norges Bank acquired a new stake in shares of Exact Sciences during the 4th quarter valued at approximately $50,625,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Exact Sciences by 63.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company's stock worth $30,863,000 after acquiring an additional 213,557 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Exact Sciences in the 4th quarter valued at approximately $9,611,000. Finally, Dimensional Fund Advisors LP raised its holdings in Exact Sciences by 20.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 969,185 shares of the medical research company's stock worth $54,461,000 after purchasing an additional 165,809 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Trading Up 3.4 %

NASDAQ:EXAS traded up $1.51 on Thursday, hitting $45.60. 1,248,019 shares of the stock were exchanged, compared to its average volume of 2,607,036. The stock has a fifty day moving average of $45.50 and a 200-day moving average of $54.54. The stock has a market cap of $8.47 billion, a PE ratio of -8.19 and a beta of 1.14. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. As a group, equities analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank raised their price target on Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Bank of America dropped their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Piper Sandler reduced their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $69.25.

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.