California State Teachers Retirement System Decreases Holdings in Exact Sciences Co. (NASDAQ:EXAS)

California State Teachers Retirement System reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287,410 shares of the medical research company's stock after selling 8,263 shares during the period. California State Teachers Retirement System owned about 0.15% of Exact Sciences worth $16,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXAS. Asset Planning Inc acquired a new position in shares of Exact Sciences in the fourth quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Exact Sciences in the fourth quarter worth approximately $45,000. AlphaQuest LLC lifted its stake in shares of Exact Sciences by 22,825.0% in the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after acquiring an additional 913 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Exact Sciences in the fourth quarter worth approximately $66,000. Finally, Ostrum Asset Management lifted its stake in shares of Exact Sciences by 28.4% in the fourth quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after acquiring an additional 527 shares during the period. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXAS has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Barclays lifted their price objective on Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Mizuho initiated coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target on the stock. Bank of America cut their price target on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Robert W. Baird increased their price target on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Exact Sciences has a consensus rating of "Moderate Buy" and an average price target of $70.90.

Exact Sciences Stock Up 0.6%

NASDAQ EXAS traded up $0.33 on Wednesday, reaching $55.17. The company had a trading volume of 2,060,952 shares, compared to its average volume of 2,595,225. The stock has a market capitalization of $10.41 billion, a P/E ratio of -9.90 and a beta of 0.92. The company's fifty day moving average is $49.37 and its 200 day moving average is $52.13. Exact Sciences Co. has a 52-week low of $39.97 and a 52-week high of $72.83. The company has a quick ratio of 1.93, a current ratio of 2.15 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, beating analysts' consensus estimates of ($0.37) by $0.16. The business had revenue of $706.79 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.60) EPS. Sell-side analysts anticipate that Exact Sciences Co. 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.