Exact Sciences Co. (NASDAQ:EXAS) Holdings Cut by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lessened its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 541,180 shares of the medical research company's stock after selling 137,288 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.29% of Exact Sciences worth $30,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EXAS. Thompson Investment Management Inc. increased its position in shares of Exact Sciences by 17.8% during 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 acquiring an additional 36,505 shares in 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. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Exact Sciences by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company's stock worth $22,868,000 after purchasing an additional 125,192 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Exact Sciences by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company's stock valued at $88,017,000 after buying an additional 45,015 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Exact Sciences by 35.3% during the 4th 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. 88.82% of the stock is owned by hedge funds and other institutional investors.

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Exact Sciences Stock Up 3.0 %

Shares of NASDAQ:EXAS traded up $1.34 during midday trading on Friday, hitting $45.62. 3,145,252 shares of the company's stock traded hands, compared to its average volume of 2,620,745. The firm's fifty day moving average price is $50.77 and its two-hundred day moving average price is $58.39. The company has a market cap of $8.47 billion, a PE ratio of -8.19 and a beta of 1.25. 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 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 Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to analysts' expectations of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. On average, equities research analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on EXAS. Bank of America reduced 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. Benchmark restated a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Barclays reduced their price objective on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. TD Cowen increased their price target 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. Finally, BTIG Research increased their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.83.

Exact Sciences 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.