Caisse DE Depot ET Placement DU Quebec Makes New Investment in Exact Sciences Co. (NASDAQ:EXAS)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,901 shares of the medical research company's stock, valued at approximately $837,000.

Several other hedge funds have also recently modified their holdings of the company. Asset Planning Inc bought a new stake in Exact Sciences during the fourth quarter worth $40,000. AlphaQuest LLC raised its stake in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after purchasing an additional 913 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Exact Sciences in the 4th quarter worth about $66,000. Ostrum Asset Management grew its position in Exact Sciences by 28.4% during the fourth quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock valued at $134,000 after buying an additional 527 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in Exact Sciences during the fourth quarter worth about $188,000. Institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Down 0.5 %

Shares of EXAS stock traded down $0.24 during mid-day trading on Thursday, reaching $53.04. 1,974,673 shares of the company's stock traded hands, compared to its average volume of 2,648,599. 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 company's 50-day moving average price is $45.36 and its 200-day moving average price is $53.07. The company has a market cap of $10.01 billion, a P/E ratio of -9.52 and a beta of 0.92. Exact Sciences Co. has a 12 month low of $39.97 and a 12 month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $706.79 million during the quarter, compared to analyst estimates of $688.58 million. During the same quarter last year, the company earned ($0.60) EPS. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EXAS. Bank of America reduced their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Piper Sandler lowered their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Mizuho began coverage on Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target for the company. Robert W. Baird upped 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, Barclays lifted their target price on shares of Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $70.90.

Exact Sciences 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.