Primecap Management Co. CA Lowers Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Primecap Management Co. CA reduced its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 479,300 shares of the medical research company's stock after selling 17,000 shares during the period. Primecap Management Co. CA owned about 0.26% of Exact Sciences worth $26,932,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EXAS. Thompson Investment Management Inc. grew its stake in Exact Sciences by 17.8% in the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company's stock worth $13,585,000 after acquiring an additional 36,505 shares in the last quarter. Zacks Investment Management bought a new position in Exact Sciences in the third quarter worth approximately $2,083,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Exact Sciences by 59.5% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Exact Sciences by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company's stock worth $88,017,000 after purchasing an additional 45,015 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position 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 purchasing an additional 24,992 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have recently commented on EXAS. Bank of America cut their price target on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Benchmark reissued a "buy" rating and set a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Scotiabank increased their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research note on Monday, February 24th. Finally, Barclays lowered their target price on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.83.

Exact Sciences Stock Performance

EXAS traded up $1.47 on Monday, reaching $47.09. 1,460,240 shares of the stock were exchanged, compared to its average volume of 2,615,326. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The company's 50-day moving average price is $50.55 and its 200 day moving average price is $58.28. The firm has a market capitalization of $8.75 billion, a PE ratio of -8.45 and a beta of 1.25. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week 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, topping analysts' consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The firm had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. As a group, sell-side analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

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.