Geode Capital Management LLC Acquires 16,828 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Geode Capital Management LLC lifted its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,122,798 shares of the medical research company's stock after purchasing an additional 16,828 shares during the quarter. Geode Capital Management LLC owned 1.69% of Exact Sciences worth $175,165,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. grew its stake in Exact Sciences by 17.8% in the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company's stock valued at $13,585,000 after purchasing an additional 36,505 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $2,083,000. Harbor Capital Advisors Inc. grew its stake in shares of Exact Sciences by 35.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company's stock valued at $5,385,000 after buying an additional 24,992 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Exact Sciences by 32.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company's stock worth $534,000 after buying an additional 2,315 shares during the last quarter. Finally, Pier Capital LLC bought a new stake in Exact Sciences during the third quarter worth $5,520,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded up $0.71 during mid-day trading on Friday, reaching $44.45. The company had a trading volume of 3,097,830 shares, compared to its average volume of 2,607,964. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of -7.98 and a beta of 1.14. The business's 50-day simple moving average is $46.95 and its 200 day simple moving average is $55.80. Exact Sciences Co. has a one year low of $39.97 and a one year high of $73.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EXAS shares. Bank of America decreased 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 report on Thursday, February 20th. Scotiabank lifted their price target on Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a report on Monday, February 24th. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a research note on Friday. Barclays cut their price objective on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Piper Sandler dropped their price target 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 investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.