NewEdge Advisors LLC Has $224,000 Stake in Exact Sciences Co. (NASDAQ:EXAS)

NewEdge Advisors LLC trimmed its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 66.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,989 shares of the medical research company's stock after selling 7,911 shares during the period. NewEdge Advisors LLC's holdings in Exact Sciences were worth $224,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Exact Sciences during the fourth quarter worth about $50,625,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Exact Sciences by 63.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company's stock valued at $30,863,000 after purchasing an additional 213,557 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Exact Sciences in the fourth quarter valued at $9,611,000. Artemis Investment Management LLP raised its holdings in shares of Exact Sciences by 139.6% in the fourth quarter. Artemis Investment Management LLP now owns 255,842 shares of the medical research company's stock valued at $14,376,000 after buying an additional 149,067 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Exact Sciences by 57.2% during the 4th quarter. Invesco Ltd. now owns 379,683 shares of the medical research company's stock worth $21,334,000 after acquiring an additional 138,089 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXAS. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Royal Bank of Canada boosted their target price on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Benchmark reiterated a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. Piper Sandler reduced their target price on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird raised their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $70.90.

Exact Sciences Stock Down 1.4 %

Shares of NASDAQ EXAS traded down $0.74 during midday trading on Wednesday, reaching $53.25. The company's stock had a trading volume of 3,349,598 shares, compared to its average volume of 2,655,386. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The stock has a 50 day simple moving average of $45.36 and a 200-day simple moving average of $53.07. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of -9.56 and a beta of 0.92. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data 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 net margin of 37.29% and a negative return on equity of 5.29%. The company had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. During the same period in the prior year, the business posted ($0.60) EPS. The company's quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current 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.