BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Holdings in Exact Sciences Corporation $EXAS

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has increased its holdings in Exact Sciences Corporation by 21.5%, now owning 287,569 shares valued at approximately $12.4 million.
• Several institutional investors significantly boosted their positions, with Larson Financial Group LLC increasing holdings by 2,804.8% during the first quarter.
• Analysts have mixed views on Exact Sciences, with some lowering price targets while maintaining 'buy' ratings, leading to an average rating of "Moderate Buy" and a consensus target price of $67.43.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 21.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 287,569 shares of the medical research company's stock after buying an additional 50,952 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.15% of Exact Sciences worth $12,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after buying an additional 589 shares during the last quarter. National Pension Service lifted its holdings in Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company's stock valued at $29,000 after purchasing an additional 292 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exact Sciences during the first quarter valued at approximately $34,000. Banque Cantonale Vaudoise purchased a new position in Exact Sciences during the first quarter valued at approximately $34,000. Finally, Bayforest Capital Ltd lifted its holdings in Exact Sciences by 95.8% during the first quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company's stock valued at $40,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Insider Buying and Selling at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the sale, the director owned 72,759 shares in the company, valued at approximately $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the sale, the director owned 59,962 shares in the company, valued at $2,519,603.24. This represents a 2.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

EXAS has been the topic of several analyst reports. BTIG Research lowered their price target on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Royal Bank Of Canada lowered their price target on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Exact Sciences in a report on Thursday, August 7th. Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, UBS Group reduced their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Exact Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $67.43.

Exact Sciences Trading Up 1.7%

Exact Sciences stock opened at $47.47 on Friday. The stock has a market cap of $8.99 billion, a P/E ratio of -8.74, a PEG ratio of 4.85 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83. The firm's 50 day moving average price is $49.57 and its 200-day moving average price is $49.31.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm had revenue of $811.09 million for the quarter, compared to analysts' expectations of $774.43 million. During the same quarter last year, the business posted ($0.09) earnings per share. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Exact Sciences Corporation 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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