Schroder Investment Management Group Has $39.61 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Schroder Investment Management Group trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 52.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,780 shares of the medical research company's stock after selling 765,937 shares during the period. Schroder Investment Management Group owned 0.38% of Exact Sciences worth $39,609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Groupama Asset Managment acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at $821,000. Norges Bank bought a new stake in Exact Sciences during the 4th quarter worth approximately $50,625,000. Iron Triangle Partners LP bought a new stake in shares of Exact Sciences during the third quarter worth $27,239,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 purchasing an additional 213,557 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Exact Sciences in the 4th quarter valued at approximately $9,611,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EXAS shares. Scotiabank raised their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. Bank of America decreased their target price on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Guggenheim set a $60.00 price objective on Exact Sciences and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Benchmark reiterated a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.26.

Exact Sciences Trading Down 3.9 %

NASDAQ EXAS traded down $1.73 on Friday, hitting $42.55. The company's stock had a trading volume of 4,616,199 shares, compared to its average volume of 2,579,934. The firm has a market cap of $7.90 billion, a PE ratio of -7.64 and a beta of 1.14. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $74.44. The company's 50-day moving average is $48.64 and its 200 day moving average is $56.90.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analyst estimates 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, analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Exact Sciences Company 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.