Swedbank AB Buys 13,333 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Swedbank AB raised its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 76.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,848 shares of the medical research company's stock after purchasing an additional 13,333 shares during the quarter. Swedbank AB's holdings in Exact Sciences were worth $1,733,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Forsta AP Fonden raised its holdings in shares of Exact Sciences by 1.3% during the 4th quarter. Forsta AP Fonden now owns 39,300 shares of the medical research company's stock valued at $2,208,000 after buying an additional 500 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Exact Sciences by 37.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 37,286 shares of the medical research company's stock valued at $2,095,000 after purchasing an additional 10,165 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company's stock valued at $474,000 after purchasing an additional 264 shares during the last quarter. Slow Capital Inc. grew its position in shares of Exact Sciences by 7.0% during the fourth quarter. Slow Capital Inc. now owns 82,001 shares of the medical research company's stock worth $4,608,000 after buying an additional 5,346 shares in the last quarter. Finally, Eagle Wealth Strategies LLC increased its position in shares of Exact Sciences by 25.0% in the 4th quarter. Eagle Wealth Strategies LLC now owns 5,000 shares of the medical research company's stock worth $281,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Down 2.7 %

EXAS stock traded down $1.50 during midday trading on Thursday, reaching $54.28. The company had a trading volume of 1,227,907 shares, compared to its average volume of 2,242,304. The company has a 50 day moving average of $57.48 and a two-hundred day moving average of $59.93. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a market capitalization of $10.05 billion, a P/E ratio of -46.39 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences's revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts expect that Exact Sciences Co. will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the topic of several research reports. Benchmark reissued a "buy" rating and set a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Bank of America reduced their price objective on Exact Sciences from $75.00 to $72.00 and set a "buy" rating for the company in a research report on Friday, December 13th. The Goldman Sachs Group decreased their target price on shares of Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Evercore ISI dropped their price objective on Exact Sciences from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup reduced their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.76.

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.