Bellevue Group AG Decreases Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Bellevue Group AG reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 52.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 694,056 shares of the medical research company's stock after selling 755,409 shares during the period. Exact Sciences comprises 0.8% of Bellevue Group AG's portfolio, making the stock its 28th largest position. Bellevue Group AG owned 0.38% of Exact Sciences worth $38,999,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Exact Sciences by 74.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after buying an additional 2,462,165 shares during the last quarter. Capital World Investors grew its position in shares of Exact Sciences by 10.7% in the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after acquiring an additional 1,696,321 shares in the last quarter. Norges Bank acquired a new stake in shares of Exact Sciences during the 4th quarter valued at approximately $50,625,000. T. Rowe Price Investment Management Inc. lifted its stake in Exact Sciences by 25.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock worth $239,922,000 after purchasing an additional 876,985 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Exact Sciences during the fourth quarter valued at $21,251,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Price Performance

NASDAQ EXAS opened at $51.55 on Friday. The company has a 50 day simple moving average of $45.02 and a 200-day simple moving average of $53.31. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of -9.25 and a beta of 0.92. Exact Sciences Co. has a 52-week low of $39.97 and a 52-week high of $72.83. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.60) earnings per share. Equities research analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on EXAS. Barclays lifted their target price on Exact Sciences from $55.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Evercore ISI raised their target price on Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday. Mizuho began coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target for the company. Finally, 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. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.90.

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.

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