Exact Sciences Corporation (NASDAQ:EXAS) Shares Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 5.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,600 shares of the medical research company's stock after purchasing an additional 12,758 shares during the period. Artemis Investment Management LLP owned about 0.14% of Exact Sciences worth $11,628,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Capital World Investors increased its position in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after buying an additional 1,696,321 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock worth $323,669,000 after buying an additional 2,462,165 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position 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 buying an additional 876,985 shares in the last quarter. Geode Capital Management LLC increased its position in Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock worth $175,165,000 after buying an additional 16,828 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Exact Sciences by 107.7% during the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock worth $164,037,000 after buying an additional 1,513,873 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the sale, the director now owns 72,759 shares in the company, valued at $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on EXAS. Mizuho began coverage on Exact Sciences in a research report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Evercore ISI lifted their price objective on Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays lowered their price objective on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, June 24th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exact Sciences presently has a consensus rating of "Moderate Buy" and an average target price of $70.40.

Exact Sciences Stock Up 3.6%

Shares of EXAS traded up $1.84 during midday trading on Friday, reaching $53.65. 9,017,373 shares of the company were exchanged, compared to its average volume of 2,571,371. The stock has a 50-day moving average price of $52.83 and a 200-day moving average price of $51.43. The company has a market cap of $10.12 billion, a price-to-earnings ratio of -9.74, a P/E/G ratio of 40.73 and a beta of 0.98. Exact Sciences Corporation has a 1-year low of $39.97 and a 1-year high of $72.83. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly 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. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The business had revenue of $706.79 million for the quarter, compared to analysts' expectations of $688.58 million. During the same quarter in the previous year, the firm posted ($0.60) earnings per share. The company's revenue was up 10.9% compared to the same quarter last year. Research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current 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.