Cetera Investment Advisers Sells 9,312 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Cetera Investment Advisers trimmed its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,637 shares of the medical research company's stock after selling 9,312 shares during the quarter. Cetera Investment Advisers' holdings in Exact Sciences were worth $4,643,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Thompson Investment Management Inc. increased its holdings in shares of Exact Sciences by 17.8% during the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company's stock worth $13,585,000 after acquiring an additional 36,505 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Exact Sciences by 32.2% during the 4th quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company's stock worth $534,000 after acquiring an additional 2,315 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Exact Sciences during the 4th quarter worth approximately $478,000. Sanctuary Advisors LLC increased its holdings in shares of Exact Sciences by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company's stock worth $763,000 after acquiring an additional 269 shares during the last quarter. Finally, Slow Capital Inc. increased its holdings in shares of Exact Sciences by 7.0% during the 4th quarter. Slow Capital Inc. now owns 82,001 shares of the medical research company's stock worth $4,608,000 after acquiring an additional 5,346 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EXAS. Robert W. Baird boosted their target price on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Piper Sandler decreased their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Evercore ISI boosted their target price on Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Barclays boosted their price target on Exact Sciences from $55.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Scotiabank boosted their price target on Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.90.

Exact Sciences Price Performance

Exact Sciences stock opened at $54.87 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $72.83. The stock has a market capitalization of $10.35 billion, a P/E ratio of -9.85 and a beta of 0.92. The stock has a fifty day moving average of $45.94 and a 200-day moving average of $52.50.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping 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 analysts' expectations of $688.58 million. During the same quarter in the previous year, the firm earned ($0.60) EPS. Exact Sciences's revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

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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