William Blair Investment Management LLC decreased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 19.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,444,511 shares of the medical research company's stock after selling 840,442 shares during the period. William Blair Investment Management LLC owned approximately 1.86% of Exact Sciences worth $193,547,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company's stock worth $211,104,000 after acquiring an additional 7,873 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of Exact Sciences by 10.9% during the 3rd 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 in the last quarter. Bellevue Group AG grew its position in shares of 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 worth $98,738,000 after buying an additional 290,585 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Exact Sciences by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company's stock worth $74,785,000 after buying an additional 38,849 shares during the period. Finally, Groupama Asset Managment purchased a new position in Exact Sciences during the 3rd quarter valued at about $821,000. Hedge funds and other institutional investors own 88.82% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. BTIG Research raised their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Barclays reduced their price target on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Piper Sandler dropped their price target on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. William Blair restated an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Finally, Scotiabank upped their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.83.
View Our Latest Report on Exact Sciences
Exact Sciences Stock Performance
NASDAQ EXAS traded up $1.34 on Friday, reaching $45.62. 3,145,252 shares of the stock were exchanged, compared to its average volume of 2,620,745. The firm has a market capitalization of $8.47 billion, a PE ratio of -8.19 and a beta of 1.25. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company's 50-day simple moving average is $50.77 and its two-hundred day simple moving average is $58.39. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.
Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million for 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%. Analysts expect that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.
Exact Sciences Profile
(
Free Report)
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.
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