BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 115.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,617 shares of the medical research company's stock after acquiring an additional 126,802 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.13% of Exact Sciences worth $13,296,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EXAS. Capital World Investors increased its position in Exact Sciences by 10.7% in the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after acquiring an additional 1,696,321 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Exact Sciences by 74.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after purchasing an additional 2,462,165 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Exact Sciences by 25.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock valued at $239,922,000 after purchasing an additional 876,985 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 16,828 shares during the last quarter. Finally, Spyglass Capital Management LLC lifted its holdings in shares of Exact Sciences by 10.2% during the fourth quarter. Spyglass Capital Management LLC now owns 1,539,436 shares of the medical research company's stock worth $86,501,000 after purchasing an additional 142,343 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $56.48 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $10.65 billion, a P/E ratio of -10.14 and a beta of 0.92. The firm has a 50-day moving average price of $47.34 and a two-hundred day moving average price of $51.96. Exact Sciences Co. has a twelve month low of $39.97 and a twelve month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share 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 business had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. During the same period last year, the company posted ($0.60) EPS. The company's revenue was up 10.9% on a year-over-year basis. As a group, research analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. William Blair restated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Evercore ISI increased their price target on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Piper Sandler lowered their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Scotiabank increased their target price on Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 24th. Finally, Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Two investment 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 stock. According to MarketBeat.com, Exact Sciences currently has an average rating of "Moderate Buy" and an average price target 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.

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