Sumitomo Mitsui Trust Group Inc. Has $53.10 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 10.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 944,961 shares of the medical research company's stock after selling 104,974 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.51% of Exact Sciences worth $53,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Exact Sciences by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company's stock valued at $211,104,000 after acquiring an additional 7,873 shares during the period. Champlain Investment Partners LLC lifted its stake in Exact Sciences by 10.9% in the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company's stock valued at $169,924,000 after buying an additional 245,980 shares during the period. Bellevue Group AG raised its position in Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company's stock valued at $98,738,000 after buying an additional 290,585 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Exact Sciences by 3.6% in the 3rd 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 purchasing an additional 45,015 shares during the period. Finally, Groupama Asset Managment bought a new position in Exact Sciences in the 3rd quarter valued at $821,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXAS has been the topic of several recent research reports. Benchmark reaffirmed a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Sanford C. Bernstein lifted their price target on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on Exact Sciences from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Bank of America decreased their price objective on Exact Sciences from $75.00 to $72.00 and set a "buy" rating for the company in a report on Friday, December 13th. Finally, TD Cowen upped their price target on Exact Sciences from $82.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.76.

Exact Sciences Stock Down 2.5 %

EXAS traded down $1.28 during trading hours on Friday, hitting $49.31. 2,248,133 shares of the company's stock were exchanged, compared to its average volume of 2,149,982. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The stock's 50-day moving average is $56.15 and its two-hundred day moving average is $60.09. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -42.14 and a beta of 1.24. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

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.