Dimensional Fund Advisors LP Buys 165,809 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Dimensional Fund Advisors LP increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 969,185 shares of the medical research company's stock after buying an additional 165,809 shares during the quarter. Dimensional Fund Advisors LP owned about 0.52% of Exact Sciences worth $54,461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its stake in shares of Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company's stock valued at $474,000 after buying an additional 264 shares during the period. Sanctuary Advisors LLC increased its holdings in Exact Sciences by 2.0% in 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. Daiwa Securities Group Inc. raised its stake in Exact Sciences by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company's stock valued at $812,000 after acquiring an additional 300 shares during the period. Patten & Patten Inc. TN lifted its holdings in Exact Sciences by 1.8% during the fourth quarter. Patten & Patten Inc. TN now owns 26,153 shares of the medical research company's stock valued at $1,470,000 after purchasing an additional 460 shares during the last quarter. Finally, Forsta AP Fonden boosted its position in Exact Sciences by 1.3% during the fourth quarter. Forsta AP Fonden now owns 39,300 shares of the medical research company's stock worth $2,208,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Price Performance

NASDAQ EXAS traded up $0.73 during trading hours on Tuesday, reaching $54.06. 4,314,658 shares of the stock traded hands, compared to its average volume of 2,649,766. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The stock has a 50 day simple moving average of $45.11 and a two-hundred day simple moving average of $53.07. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83. The company has a market cap of $10.19 billion, a price-to-earnings ratio of -9.70 and a beta of 0.92.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced 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. The company had revenue of $706.79 million for the quarter, compared to analysts' expectations of $688.58 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Exact Sciences's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.60) EPS. On average, analysts predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EXAS shares. Benchmark reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. Barclays raised their price target on Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday. Scotiabank boosted their price objective 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. Royal Bank of Canada raised their target price on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Piper Sandler decreased their price target on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.