Exact Sciences Corporation (NASDAQ:EXAS) Shares Purchased by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. has increased its stake in Exact Sciences Corporation by 44.3%, owning a total of 21,793 shares valued at approximately $943,000.
• Institutional investors hold 88.82% of Exact Sciences stock, with notable increases from several funds including Price T Rowe Associates and Mackenzie Financial Corp.
• Exact Sciences reported a profit of $0.22 per share for the last quarter, exceeding estimates, with revenue up 16.0% year-over-year.

E Fund Management Co. Ltd. lifted its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 44.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 21,793 shares of the medical research company's stock after buying an additional 6,687 shares during the period. E Fund Management Co. Ltd.'s holdings in Exact Sciences were worth $943,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXAS. OneDigital Investment Advisors LLC increased its position in shares of Exact Sciences by 0.3% in the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock worth $4,367,000 after acquiring an additional 270 shares in the last quarter. National Pension Service increased its position in shares of Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after acquiring an additional 292 shares in the last quarter. Allworth Financial LP grew its holdings in Exact Sciences by 14.3% during the 1st quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock valued at $136,000 after purchasing an additional 373 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in Exact Sciences by 5.7% during the 1st quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock valued at $305,000 after purchasing an additional 379 shares in the last quarter. Finally, Curi RMB Capital LLC grew its holdings in Exact Sciences by 1.7% during the 4th quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company's stock valued at $1,399,000 after purchasing an additional 428 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Stock Performance

Shares of Exact Sciences stock traded up $0.61 during trading hours on Friday, reaching $45.60. The company's stock had a trading volume of 3,885,891 shares, compared to its average volume of 3,811,439. The company's 50 day simple moving average is $50.41 and its 200 day simple moving average is $49.63. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.83. The stock has a market cap of $8.63 billion, a P/E ratio of -8.40, a price-to-earnings-growth ratio of 4.66 and a beta of 0.93.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $811.09 million for the quarter, compared to the consensus estimate of $774.43 million. During the same period last year, the firm posted ($0.09) EPS. The company's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction dated 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 of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Edward Doyle sold 1,485 shares of the stock in a transaction dated 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 directly owned 59,962 shares in the company, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EXAS has been the subject of a number of recent analyst reports. Evercore ISI lowered their price target on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. 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 for the company in a report on Thursday, August 7th. Robert W. Baird raised their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, BTIG Research lowered their price target on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $67.43.

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.