Thompson Investment Management Inc. Raises Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Thompson Investment Management Inc. lifted its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,584 shares of the medical research company's stock after buying an additional 18,595 shares during the period. Exact Sciences comprises approximately 1.7% of Thompson Investment Management Inc.'s portfolio, making the stock its 10th biggest position. Thompson Investment Management Inc. owned about 0.09% of Exact Sciences worth $11,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Exact Sciences during the fourth quarter worth $120,308,000. Jennison Associates LLC raised its holdings in shares of Exact Sciences by 94.0% during the fourth quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company's stock worth $100,681,000 after acquiring an additional 659,235 shares in the last quarter. Capital World Investors raised its holdings in shares of Exact Sciences by 7.8% during the fourth quarter. Capital World Investors now owns 7,468,145 shares of the medical research company's stock worth $552,493,000 after acquiring an additional 539,498 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Exact Sciences by 12.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company's stock worth $330,711,000 after acquiring an additional 508,764 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Exact Sciences by 328.3% during the third quarter. Qube Research & Technologies Ltd now owns 540,191 shares of the medical research company's stock worth $36,852,000 after acquiring an additional 414,059 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Stock Performance

Shares of Exact Sciences stock traded up $2.79 during trading on Wednesday, reaching $44.16. The company's stock had a trading volume of 5,285,894 shares, compared to its average volume of 2,661,687. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.64. The business's fifty day moving average price is $51.16 and its 200-day moving average price is $60.52. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of -33.45 and a beta of 1.26. Exact Sciences Co. has a one year low of $40.62 and a one year high of $100.77.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, hitting analysts' consensus estimates of ($0.50). The business had revenue of $637.52 million for the quarter, compared to analyst estimates of $624.95 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. As a group, equities research analysts predict that Exact Sciences Co. will post -1.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EXAS shares. Canaccord Genuity Group cut their price objective on Exact Sciences from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, May 9th. BTIG Research cut their price objective on Exact Sciences from $80.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday. Citigroup cut their target price on Exact Sciences from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 9th. Finally, Jefferies Financial Group began coverage on Exact Sciences in a report on Monday, June 3rd. They set a "buy" rating and a $75.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.23.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the sale, the chief executive officer now directly owns 1,156,191 shares of the company's stock, valued at $69,544,888.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the executive vice president now directly owns 71,787 shares of the company's stock, valued at $5,025,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the sale, the chief executive officer now directly owns 1,156,191 shares in the company, valued at $69,544,888.65. The disclosure for this sale can be found here. Insiders have sold a total of 5,498 shares of company stock valued at $370,105 over the last three months. 1.36% of the stock is owned by corporate insiders.

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.