Ameriprise Financial Inc. Cuts Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Ameriprise Financial Inc. cut its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,208,039 shares of the medical research company's stock after selling 317,395 shares during the period. Ameriprise Financial Inc. owned approximately 2.27% of Exact Sciences worth $236,450,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Synovus Financial Corp purchased a new position in shares of Exact Sciences during the 3rd quarter worth about $490,000. GAMMA Investing LLC lifted its stake in shares of Exact Sciences by 29.1% during the 4th quarter. GAMMA Investing LLC now owns 3,674 shares of the medical research company's stock worth $206,000 after acquiring an additional 828 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Exact Sciences during the 4th quarter worth approximately $356,000. Diversified Trust Co grew its position in Exact Sciences by 5.9% in the 4th quarter. Diversified Trust Co now owns 12,639 shares of the medical research company's stock valued at $710,000 after acquiring an additional 708 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Exact Sciences by 35.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company's stock worth $5,385,000 after purchasing an additional 24,992 shares during the last quarter. Institutional investors own 88.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXAS. Bank of America cut their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a research note on Friday, April 11th. Scotiabank increased their price target on Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a report on Monday, February 24th. Robert W. Baird boosted their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Benchmark reissued 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, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $70.90.

Exact Sciences Price Performance

Shares of Exact Sciences stock traded down $1.34 during trading on Friday, hitting $51.72. 1,975,218 shares of the company were exchanged, compared to its average volume of 2,600,415. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average price of $45.52 and a 200 day moving average price of $52.71. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of -9.29 and a beta of 0.92. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.16. The company had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.60) EPS. On average, equities analysts expect 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.